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FTSE firms still need more women bosses says new research

Published 15/06/2023, 14:53
© Reuters.  FTSE firms still need more women bosses says new research

Proactive Investors - The number of female FTSE board members rose in 2023 but there are still not enough women bosses at these companies, new research has found.

Some 40% of the 565 FTSE All-Share company directors are women, up from 36% last year.

Women working in senior positions such as chairs, chief executives, finance officers and senior independent directors has stagnated however, with just a tenth of these roles filled by females.

Company boards should be made up of 40% women and at least one female should hold a senior role, the rules of the Financial Conduct Authority state.

Even so, some 40 of FTSE 100 firms have failed to appoint a female to one of these senior roles, insight from campaigners Women on Board revealed.

Offenders include:

  • British Land Company PLC (LON:BLND)
  • Barratt Developments PLC (LON:BDEV)
  • Persimmon PLC (LON:PSN)
  • Centrica PLC (LON:CNA)
  • Lloyds Banking Group PLC (LON:LLOY)
  • Hiscox Ltd (LON:HSX)
  • Legal & General Group PLC (LON:LGEN)
  • Compass Group PLC (LON:CPG)
  • Ocado Group PLC (LON:OCDO)
  • Tesco PLC (LON:TSCO)
  • Rio Tinto PLC (LON:RIO)
  • Antofagasta PLC (LON:ANTO)
  • Anglo American PLC (LON:AAL)

Fiona Hathorn, chief executive officer at Women on Boards has welcomed the progress made by firms outside of the FTSE 350 to appoint female non-executive directors.

However, she added: “Just having women in non-executive director roles is not sufficient to have an impact on the executive pipeline … We don’t have the women’s strong voice in the boardroom.”

Read more on Proactive Investors UK


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