British ministers have urged businesses to appoint more women to senior executive positions after Hampton-Alexander finished reviewing the board’s gender diversity.
This review, supported by the government, completes a five-year program that helps women hold more than a third of positions on the FTSE 100, 250, and 350 boards.
The number of women on the FTSE Board of Directors is 1026, an increase of 50% since 2015. As of last month, the FTSE 350 no longer had a full male board.
The Hampton-Alexander review was launched in 2016 to encourage UK-listed companies to appoint more women to senior management.
However, more than 100 FTSE 350 companies still fail to meet the goal of women accounting for more than a third of executive positions.
Also, there are still 16 companies with only one woman on the board. Despite the decline from 116 when the review began, the review describes it as a’one person and complete’ problem.
The government has said that all businesses must go beyond such tokenism so that more women can reach top management.
Business Secretary Kwasi Kwarteng said it is important for companies to continue to challenge “to use all the talents of our workforce and open up top positions for more performant women.”
Only about 13% of board members are women in the FTSE 100. The FTSE 350 has a total of 28 executive committees made up of men. .
Sir Philip Hampton, Chairman of the Jury, has made some of the strongest progress in the non-executive directorship, but “in the future, more women will take on the top management role. This is what you need to keep changing. “
Now, the focus is to shift women to a successful executive career before reaching non-executive roles, Hampton added. “The most important thing went slowly. I don’t believe the top management is 85% male.”
Denise Wilson, Chief Executive Officer of Hampton-Alexander, said: “The supply of capable and experienced women is overflowing. Companies now need to fully utilize the talent pool of educated and experienced women for the benefit of themselves and the UK economy.”
For the first time, the FTSE 100 has two companies, Diageo and Severn Trent, with more women than men. The FTSE 350 has four companies with a female chief executive and chairman of Admiral Group, Pennon Group, Severn Trent and Direct Line Insurance.
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