Sector News

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

October 3, 2019
Diversity & Inclusion

Get involved in the discussion! Click here to comment on this story

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

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 13, 2019

Who supports diversity policies? It depends on the policy

Diversity & Inclusion

LinkedIn Twitter FacebookSince the 1980s, companies have increasingly adopted diversity policies to improve the representation of women and racial minorities in the workplace. Today over 95% of companies with at […]

November 6, 2019

When boardroom diversity laws aren’t nearly enough

Diversity & Inclusion

LinkedIn Twitter FacebookIllinois recently passed a law requiring companies to report the demographics of their boards and executives—a watered-down version of the original bill that would have required all corporate […]

October 29, 2019

Advice to women who pitch: sell the dream

Diversity & Inclusion

LinkedIn Twitter FacebookCompanies founded by women receive a small fraction of venture capital dollars (just over 2% all-women founder teams, 15% if one of the founders is female). There are […]

Subscribe to our Weekly Newsletter

We're easy to reach