Key Facts: The percentage of Women on the boards of the UK’s 350 most valuable publicly listed companies has exceeded 30 per cent for the first time.
What Caused This? According to Ann Cairns, global co-chair of the 30% club said that there had been incentive to achieve this milestone to ensure gender ‘balance’ rather than a 50-50 split when it comes to the composition of boards.
The Bigger Picture: Reaching the 30% board split is an important milestone for greater gender balance in the top 350 FTSE companies. The number has risen significantly since 2010 when the share of women holding board positions was at 9.5%
According to Ms. Cairns this development will have a great impact on changing boardroom culture, since women’s voices are now going to be heard, leading to more women being appointed in similar positions. Crucially, according to the Financial Times, while the top 100 companies listed on the FTSE had achieved that critical 30 per cent milestone last year, ‘the next 250 largest companies had lagged behind’. Additionally, while the 30% milestone seems promising when it comes to achieving gender balance in relation to the composition of boards within the largest companies listed on FTSE, it should be noted that women are still under-represented in the most senior roles at companies. Only 25 out of the 350 groups in the FTSE list have a woman chair while just 13 have a female chief executive.
Article by: Stavros Paterakis, writer at NWK