The LexisNexis mid-year market tracker is an analysis of the number of women on boards, showing up to date figures on the UK’s position in line with the recommendations of the Davies Report 2011, and since the March 2015 government update.
With six months to the deadline, we hope this analysis of the FTSE 350 will provide a robust understanding of progress in UK corporate leadership and gender diversity to date.
Key points include:
- The FTSE 100 saw 8 additional female board appointments and an overall rise in the percentage of women on boards from 23.5% to 24.4%.
- The FTSE 250 saw 26 new board appointments of women and an overall increase in the percentage of women on boards from 18% to 19%.
- The number of all-male boards in the FTSE 250 has reduced from 23 to 19.
- 33 of the 34 board appointments of women across the FTSE 350 were to non-executive roles, indicating that there is more to be done to encourage companies to appoint women to executive positions. Halfords Group plc (a FTSE 250 company) was the only company to appoint a woman as an executive director between March and June 2015.
- The number of FTSE 100 companies meeting the 25% target has increased from 41 to 47.
- The number of FTSE 250 companies already meeting the long-term 25% target has increased from 65 to 77.
Eleanor Kelly, Solicitor, Lexis®PSL Corporate has provided a comment on the report:
Whilst FTSE 350 companies are continuing to improve gender balance on their boards, the figures showing low levels of appointments of women to executive director roles should set alarm bells ringing. The concern is that companies may have been paying lip service to the Davies recommendations by appointing women to part-time nonexecutive roles for the purpose of achieving nominal targets by 2015. True gender diversity won’t be achieved unless and until more women are involved in making the key day-to-day business decisions. Hopefully the Davies Steering Group will address this issue in their end of 2015 report and set some targets to help to get more women into executive director roles at FTSE 350 companies.
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