Sector News

Share of women on boards of big UK companies hits all-time high of 30%

October 3, 2019
Diversity & Inclusion

The proportion of women on the boards of Britain’s large public companies has reached 30 per cent for the first time in history, a campaign group has said.

The 30% Club, a multinational group that promotes greater representation of women on boards, said women now hold 903 out of 3,008 board positions at the 350 biggest companies by market capitalisation listed on the London Stock Exchange.

In 2010, when the 30% Club was founded, the share stood at only 9.5 per cent. The group has been campaigning to hit the 30 per cent target by 2020 before lifting the number of female corporate leaders further.

“Thirty per cent is the number at which a minority group starts to become heard and considered – that target is our floor, not our ceiling,” said Ann Cairns, global co-chair of the 30% Club and executive vice-chair of Mastercard.

Her co-chair and PwC partner Brenda Trenowden added: “This is an incredible milestone on the journey towards greater diversity and gender parity on company boards. The fact that we’ve met our 2020 target ahead of time means the narrative is working.”

Ms Trenowden, who was awarded a CBE in 2018, said research has shown that more diverse boards contribute to better overall business performance.

In relation to gender diversity, research by Rebecca Moss at the University of Nottingham published last year found that female board directors significantly improve banks’ performance during a financial crisis.

Her findings provide support for the business case for more female directors, “especially within high-risk environments”, she argued.

Despite the progress on gender diversity, equal representation is still a way off. According to the 30% Club, only 13 FTSE350 companies have female chief executives – a share of less than 4 per cent. The group is also still campaigning to achieve a minimum of 30 per cent of women at senior management level of FTSE100 firms by 2020.

By Olesya Dmitracova

Source: The Independent

comments closed

Related News

May 15, 2022

Reframing the concept of networking for women entrepreneurs: relationships, not networks

Diversity & Inclusion

Networking is a tricky word — especially for women in business. For some, networking conjures up images of crowded rooms full of people in suits exchanging business cards. For others, it might feel like asking someone to do something for you, which can be uncomfortable for many women.

May 7, 2022

How women can identify male allies in the workplace

Diversity & Inclusion

To spot a male ally, start by looking for indicators of growth and opportunity in your workplace. Then, seek out individuals you recognize a practicing allyship behaviors. Beware of performative allyship, where there is no action behind their words. Finally, reach out to establish a relationship.

April 30, 2022

How to create a workplace that supports neurodiversity

Diversity & Inclusion

Unemployment is higher among neurodivergent people. Companies with neurodiversity hiring programmes benefit from having different perspectives in the workplace. Here are some simple steps to help neurodiverse people thrive at work.