Latest news with #FTSEWomenLeadersReview
Yahoo
25-02-2025
- Business
- Yahoo
Women now make up 43% of Britain's top boardrooms, report says
LONDON (Reuters) - Women make up about 43% of the boards of directors of Britain's 350 biggest public companies, according to a government-backed report published on Tuesday that also said more work was needed to boost women's representation in leadership roles. In 2024, FTSE 350 companies had women on 43.4% of company boards compared with 40.2% a year earlier, while women held 35.3% of leadership roles versus 33.5% in the previous year, the FTSE Women Leaders Review report said. For FTSE 100 companies, women's representation on boards was 44.7% in 2024 while in senior leadership roles it was 36.6%. There was progress from a year ago on both counts. Board positions can include non-executive positions that lack decision-making functions akin to the role of a CEO. The report also showed that the number of women CEOs among FTSE 350 companies fell for the second consecutive year - from 21 in 2022 to 20 in 2023, and now to 19 in 2024. Still, the government said overall progress was positive, given Britain's voluntary, business-led approach to diversity. In contrast to countries such as France and Belgium, Britain does not have a mandatory quota system for women on boards at publicly listed companies, but its rules say these firms should have at least 40% of female representation on their boards. Almost three quarters of the FTSE 350 companies were meeting or exceeding the 40% target, the report said. "The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels," British finance minister Rachel Reeves, herself the first ever woman in the role, said in a statement. "We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain," she added. Among Britain's 50 biggest private companies, the proportion of women on boards of directors was less than at their public counterparts, at 31%, the report said. Sign in to access your portfolio
Reuters
25-02-2025
- Business
- Reuters
Women now make up 43% of Britain's top boardrooms, report says
LONDON, Feb 25 (Reuters) - Women make up about 43% of the boards of directors of Britain's 350 biggest public companies, according to a government-backed report published on Tuesday that also said more work was needed to boost women's representation in leadership roles. In 2024, FTSE 350 (.FTLC), opens new tab companies had women on 43.4% of company boards compared with 40.2% a year earlier, while women held 35.3% of leadership roles versus 33.5% in the previous year, the FTSE Women Leaders Review report said. For FTSE 100 (.FTSE), opens new tab companies, women's representation on boards was 44.7% in 2024 while in senior leadership roles it was 36.6%. There was progress from a year ago on both counts. Board positions can include non-executive positions that lack decision-making functions akin to the role of a CEO. The report also showed that the number of women CEOs among FTSE 350 companies fell for the second consecutive year - from 21 in 2022 to 20 in 2023, and now to 19 in 2024. Still, the government said overall progress was positive, given Britain's voluntary, business-led approach to diversity. In contrast to countries such as France and Belgium, Britain does not have a mandatory quota system for women on boards at publicly listed companies, but its rules say these firms should have at least 40% of female representation on their boards. Almost three quarters of the FTSE 350 companies were meeting or exceeding the 40% target, the report said. "The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels," British finance minister Rachel Reeves, herself the first ever woman in the role, said in a statement. "We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain," she added. Among Britain's 50 biggest private companies, the proportion of women on boards of directors was less than at their public counterparts, at 31%, the report said.
Yahoo
25-02-2025
- Business
- Yahoo
FTSE 350 firms achieve ‘gender-balanced' boardrooms but lack women in top jobs
The UK's biggest listed companies have achieved gender-balanced boardrooms, but a lack of women in top jobs has seen the number of female FTSE 100 chief executives fall below 10, according to a Government-backed report. Progress comes despite more firms looking to 'weed out' costly or ineffective diversity goals amid a string of companies scaling back initiatives in the US, the boss of the FTSE Women Leaders Review said. New data from the report shows that women now occupy 43.4% of boardroom positions across FTSE 350 companies. This is up from 42.1% last year, and marks a steep increase from the 24.5% representation recorded in 2017 when the report was launched. It also means listed companies continue to exceed the 40% voluntary target set by the review. Vivienne Artz, chief executive of the FTSE Women Leaders Review, said a lack of resistance to diversity initiatives among the biggest UK corporates had propelled change in recent years. She told the PA news agency: 'You can't ignore the fact that there's a lot of questioning going on, particularly from across the ocean, in relation to DEI (diversity, equality and inclusion).' But she said the organisation was 'really pleased and impressed' with the willingness of companies to share their data, 'so we haven't encountered any resistance in the UK'. The latest report comes as a number of large businesses in the US, including Google, Meta, Amazon and McDonald's, have scaled back diversity programmes amid political pressure after Donald Trump's presidential election victory. Ms Artz said companies that were setting diversity targets 'to look good' were 'probably having an existential crisis' over DEI programmes. But she said it could be 'healthy' for firms to review their initiatives and 'focus on what is actually working to help the business versus fluffy stuff, extra stuff, things that actually might be more irritating than effective'. 'I think it's helpful to weed out those practices that are not working,' Ms Artz added. Meanwhile, the analysis also found that the proportion of women in leadership positions increased to 35.3% across FTSE 350 firms, from 34.5% the previous year, as of the end of October 2024. This spans executive positions including chief executive and chief finance officer, as well as those directly reporting to the leaders. But on the FTSE 100, the number of female chief executives decreased from 10 to nine, remaining 'few and far between, with little progress in a decade', according to the review. There were 28 female finance directors and 16 chairs on the FTSE 100. About 100 of the top 350 listed companies still had fewer than a third of their leadership positions occupied by women. 'Whilst FTSE 350 company boards are now gender-balanced, sustained effort and determination is required to achieve the 40% target for women in leadership by the end of this year,' Ms Artz said. The listed firms with the highest proportion of female leaders include retailers Marks & Spencer, Next, and Burberry, and publishing giants Pearson and Bloomsbury, which all have more than 50% female representation. Those at the bottom of the rankings include miners Fresnillo and Antofagasta, and Games Workshop and CMC Markets, which all have less than 25% female representation. Some private companies such as chemicals giant Ineos, parcel firm Hermes and wholesaler Bestway have no women on their boards. Across the G7 – the group of seven of the world's most advanced economies – the UK's FTSE 350 ranks in second place, behind France, for female boardroom representation. France has gender quotas for its top 40 company boardrooms, while the UK has voluntary targets. Chancellor Rachel Reeves said: 'The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels. 'We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.'
The Independent
25-02-2025
- Business
- The Independent
FTSE 350 firms achieve ‘gender-balanced' boardrooms but lack women in top jobs
The UK's biggest listed companies have achieved gender-balanced boardrooms, but a lack of women in top jobs has seen the number of female FTSE 100 chief executives fall below 10, according to a Government-backed report. Progress comes despite more firms looking to 'weed out' costly or ineffective diversity goals amid a string of companies scaling back initiatives in the US, the boss of the FTSE Women Leaders Review said. New data from the report shows that women now occupy 43.4% of boardroom positions across FTSE 350 companies. This is up from 42.1% last year, and marks a steep increase from the 24.5% representation recorded in 2017 when the report was launched. It also means listed companies continue to exceed the 40% voluntary target set by the review. Vivienne Artz, chief executive of the FTSE Women Leaders Review, said a lack of resistance to diversity initiatives among the biggest UK corporates had propelled change in recent years. She told the PA news agency: 'You can't ignore the fact that there's a lot of questioning going on, particularly from across the ocean, in relation to DEI (diversity, equality and inclusion).' But she said the organisation was 'really pleased and impressed' with the willingness of companies to share their data, 'so we haven't encountered any resistance in the UK'. The latest report comes as a number of large businesses in the US, including Google, Meta, Amazon and McDonald's, have scaled back diversity programmes amid political pressure after Donald Trump's presidential election victory. Ms Artz said companies that were setting diversity targets 'to look good' were 'probably having an existential crisis' over DEI programmes. But she said it could be 'healthy' for firms to review their initiatives and 'focus on what is actually working to help the business versus fluffy stuff, extra stuff, things that actually might be more irritating than effective'. 'I think it's helpful to weed out those practices that are not working,' Ms Artz added. Meanwhile, the analysis also found that the proportion of women in leadership positions increased to 35.3% across FTSE 350 firms, from 34.5% the previous year, as of the end of October 2024. This spans executive positions including chief executive and chief finance officer, as well as those directly reporting to the leaders. But on the FTSE 100, the number of female chief executives decreased from 10 to nine, remaining 'few and far between, with little progress in a decade', according to the review. There were 28 female finance directors and 16 chairs on the FTSE 100. About 100 of the top 350 listed companies still had fewer than a third of their leadership positions occupied by women. 'Whilst FTSE 350 company boards are now gender-balanced, sustained effort and determination is required to achieve the 40% target for women in leadership by the end of this year,' Ms Artz said. The listed firms with the highest proportion of female leaders include retailers Marks & Spencer, Next, and Burberry, and publishing giants Pearson and Bloomsbury, which all have more than 50% female representation. Those at the bottom of the rankings include miners Fresnillo and Antofagasta, and Games Workshop and CMC Markets, which all have less than 25% female representation. Some private companies such as chemicals giant Ineos, parcel firm Hermes and wholesaler Bestway have no women on their boards. Across the G7 – the group of seven of the world's most advanced economies – the UK's FTSE 350 ranks in second place, behind France, for female boardroom representation. France has gender quotas for its top 40 company boardrooms, while the UK has voluntary targets. Chancellor Rachel Reeves said: 'The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels. 'We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.'
The Guardian
25-02-2025
- Business
- The Guardian
Women hold almost 45% of seats on FTSE 100 boards, report says
Women occupy more than two in five seats on the boards of Britain's biggest listed companies after further progress was made last year, but the number of female FTSE 100 chief executives dipped for a time to fewer than 10, according to a report. The proportion of board positions held by women at FTSE 350 companies rose to a new all-time high of 43.4% last year, up from 42.1% in 2023, according to the government-backed annual FTSE Women Leaders Review. Among the 100 biggest listed companies, the proportion of women in the boardroom was even higher, at 44.7% versus 42.6% in 2023. The report, sponsored by Lloyds Banking Group and the consultancy KPMG, shows that women occupied 1,275 of roles on company boards and 6,743 (35%) of leadership roles at the 350 FTSE companies last year. This means the UK ranks in second place internationally for women in the boardroom, behind France in G7 countries. France has 45.4% female representation on company boards and has used quotas, along with other countries, while the UK target of 40% female boardroom representation by the end of this year is voluntary. 'Today's report shows that while the momentum is with us, we have so much further to go,' said Poppy Gustafsson, the minister for investment. 'I know from founding my own business how strong female voices inspire positive change throughout an organisation, bringing new ideas and adding greater value.' However, the number of women in top positions in the FTSE 350 fell slightly, to 19 female chief executives compared with 20 in 2023. The female FTSE 100 CEOs are Emma Walmsley at GSK, Jennie Daly at Taylor Wimpey, Amanda Blanc at Aviva, Debra Crew at Diageo, Liv Garfield at Severn Trent, Louise Beardmore at United Utilities, Margherita Della Valle at Vodafone, Milena Mondini at Admiral Group and Allison Kirkby at BT. The Entain chair, Stella David, has also stepped in as the interim chief executive of Britain's biggest bookmaker, to replace Gavin Isaacs after his surprise departure a fortnight ago. She had also led the company, which owns Ladbrokes, Gala, Foxy Bingo and PartyPoker, on an interim basis before Isaacs became CEO in September. At an event in London on Tuesday evening, business leaders, ministers and the leaders of the review will meet to reflect upon the progress made and the 'contribution it is making to creating a stronger, more dynamic economy'. The government wants to work with business to bring more women into key roles such as company chairs, CEOs and other executive roles. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Rachel Reeves, the chancellor, said: 'The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels. We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.'
