More than 60 percent of FTSE350 companies are within a striking distance of 40 percent women’s representation in boardrooms.
The FTSE Women Leaders Review report for 2025, backed by the government and sponsored by Lloyds Banking Group and KPMG LLP, shows that women now occupy 1,275, or 43%, of roles on company boards and 6,743 (35%) of leadership roles at the 350 FTSE companies.
The UK government quoted data from BoardEx on the numbers for Women on Boards of FTSE 350. As of 10th January 2025, the number of women on boards is as follows:
FTSE 100 at 44.7%, up from 42.6% in 2023
FTSE 250 at 42.6%, up from 41.8% in 2023
FTSE 350 at 43.4%, up from 42.1% in 2023
50 largest UK private companies are at 30.5% (30.6% in 2023)
Almost three-quarters of FTSE 350 Boards (73.4%) have met or exceeded the current 40% target, with that number now standing at 257, up from 235 in 2023.
The UK’s FTSE 350 ranks second globally compared to the G7 countries. The UK 350 companies are implementing voluntary actions, compared to 40 in France, which has quota legislation.
FTSE 100 companies top the rankings for women on boards compared with international indices including the FTSE 100: 44.7%, Euronext 100: 42.2%, IBEX: 40.9%, and S&P ASX: 40.2%, the UK government said in the press release.
Women in Leadership: 2024
As of October 31, 2024, the FTSE Women Leaders’ Leadership Data Collection Portal reported the number of women in leadership, including Executive Committee and Direct Reports.
FTSE 100 at 36.6%, up from 35.2% in 2023
FTSE 250 at 34.2%, up from 33.9% in 2023
FTSE 350 at 35.3% up from in 34.5% in 2023
50 largest UK private companies are at 36.8%, up from 35.6% in 2023
Four Key Roles: 2024
- In 2024, the number of women appointed to the Chair role in the FTSE 350 increased from 53 in 2023 to 60, representing a 17% increase.
- In 2024, the number of women SIDs in the FTSE 350 rose to 192, with over half of these companies (56%) having a woman SID.
- The number of women Finance Directors in the FTSE 350 has increased from 48 in 2023 to 57 in 2024, representing a 22% increase.
- However, FTSE 350 women CEOs have reduced from 20 in 2023 to 19 in 2024.
The recommendations for the review:
In February 2022, four recommendations were announced to further advance gender balance in British business. The review covers 50 of the UK’s largest private companies, going beyond FTSE 350 companies.
The voluntary target for FTSE 350 Boards and leadership teams was increased to achieve a minimum of 40% women’s representation by the end of 2025.
By the end of 2025, companies must have at least one woman in the Chair, Senior Independent Director, or Chief Executive Officer or Finance Director roles.
Key stakeholders should continue setting best-practice guidelines or using alternative mechanisms to encourage the FTSE 350 Board to meet the 33% target by the end of 2020.
The UK government is progressing in breaking down barriers to opportunity within innovative companies, with equal opportunities for women at the heart of its growth mission. However, it also acknowledges more is required to increase women in leadership roles and on boards and will work with FTSE companies to ensure equal opportunities.
Thought leadership:
Vivienne Artz, CEO, FTSE Women Leaders Review, said, “In an increasingly disruptive world in which companies are faced with a combination of economic, geopolitical, and technological change, British businesses are setting an international standard for balanced and inclusive leadership.”
With its unique government-backed and business-led voluntary approach, the UK has spearheaded a world-leading transformation in the highest ranks of industry. 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, she said.
Penny James and Nimesh Patel, Co-Chairs, FTSE Women Leaders Review, said, “Despite many competing priorities, companies continue to see equality of opportunity as key to improving productivity and achieving growth.”
Balance on FTSE 350 boards has been achieved, and women’s representation on executive teams is steadily increasing, but a step-up in commitment is required to deliver parity in the key leadership roles, they said.
