Campaigners have blasted an ‘unacceptable’ drop in women in top corporate jobs.
A stark report showed the number of female executives at Britain’s biggest companies has fallen for the first time in eight years.
Research published yesterday said the reversal means it could take a further five generations before there is an equal split between men and women on leadership teams.
‘Unacceptable’: A stark report showed the number of female executives at Britain’s biggest companies has fallen for the first time in eight years
Authors of the report by consultancy The Pipeline called on businesses to take urgent action to make ‘real change’, saying there is ‘no room for complacency’ in the drive to achieve gender parity at Britain’s top businesses.
Just 9 per cent of chief executives and only 18 per cent of finance chiefs of FTSE 350 businesses are women, the research found.
The figure has only increased twice in the last seven years. Female representation on the executive committees of the 350 biggest London-listed companies has fallen to 32 per cent from 33 per cent – the first decline since 2016.
Only 19 per cent of commercial roles in the boardroom are occupied by women, compared to 20 per cent a year earlier.
Geeta Nargund, chairman of The Pipeline, said it is ‘unacceptable that gender representation in business leadership is moving backwards in 2024’.
‘Gender parity means economic prosperity, and so fair representation is not just a ‘nice to have’ or a tick-box exercise – it is a business imperative,’ she said. ‘Now is the time for action from businesses and leaders alike to initiate real change.’
The report said businesses with gender-inclusive cultures and equal employment opportunity policies are 60 per cent more likely to have improved profits and productivity.
Campaigners called for improved flexible working and parental leave policies, alongside promoting and investing in female leadership. Liz Stanley, chief executive of the group, said the situation ‘is getting worse rather than better’.
‘There is no room for complacency,’ she said.
‘We simply cannot afford for businesses to lose focus or pay lip service when it comes to promoting and supporting women. The pace of progress had already been glacial.’
Just nine of FTSE 100 bosses are women, including Aviva chief executive Amanda Blanc and Emma Walmsley at pharmaceuticals giant GSK.
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