The government backed Hampton-Alexander review 2019 - just released - has found that 2019 was the most robust for women in senior leadership since 2011, when targets were set. The review is committed to achieving 33 per cent of women on boards and in leadership teams of FTSE 100 and 250 companies, by 2020.
Sir Philip Hampton - Chair of the Hampton-Alexander Review - stated:
“This is the penultimate Hampton-Alexander Report and we enter our final year with great momentum behind us. If this progress continues into 2020, our targets for Women on Boards will be met. Whilst this is a key indicator of change at the top, strengthening the number of women in executive positions is critical to achieving long-term gender balance. We are still a long way from reaching the target for women in senior leadership roles below board level. Unless half of all appointments made this year go to women – our target for 2020 is not going to be met.”
Eight years ago female representation on boards stood at 12.5 per cent for the hundred biggest UK-based companies. The percentage now is 32.4 per cent - meaning that the FTSE100 is likely to meet the target set by the review.
The latest report has also shown that women hold 29.6 per cent of all FTSE 250 board positions - witnessing a rise up from 24.9 per cent last year - meaning that the FTSE 250 can also meet the 33 per cent deadline provided sustained effort is made.
In the FTSE150 and 250 there are now only two all-male boards but still forty four all-male executive committees. However, there are still dozens of companies who have progressed to no further than a single woman on the board.
More concerning - according to the Mail on Sunday - there are only thirteen female CEOs at FTSE 250 level, with a few number of chairs.
Charlotte Valeur - Institute of Directors Chairperson - stated:
“Women must be trusted not just to be part of the discussion, but also to lead it.”
She added that big firms should....... “take a long hard look at their recruitment processes and ask what barriers are being put up that prevent women and ethnic minorities from advancing both in executive roles and to the board.”
Denise Wilson OBE- Chief Executive, Hampton-Alexander Review - said:
“There are over 900 women now serving on FTSE 350 boards, providing an ever-increasing pool of women with substantial board experience, yet only 25 women have been appointed into the Chair role, even fewer as women CEOs and showing little sign of change. Strong foundations have been laid and significant progress has been made since the journey began in earnest in 2011. The very senior jobs were always going to be the hardest of challenges, however a stronger focus is now required at every stage of the appointment process to address the reasons why top jobs aren’t going to women.”
Chris Cummings - Chief Executive of the Investment Association - said:
"Great progress is being made with Women on Boards, but it's time for us to aim higher. This pace of change now needs to extend beyond the board to senior executive leadership roles if businesses are to demonstrate their diversity at all levels. The research is clear - firms with diverse boards and management teams make better decisions, drive innovation and outperform their less diverse peers."
