The number of women in leadership positions in corporate Britain has declined for the first time in eight years, according to a report published on Thursday. This "unacceptable" setback may
delay achieving gender equality for another five generations, according to a consultancy group.
The Pipeline, which monitors gender diversity in senior corporate roles, revealed that the percentage of women on executive committees at the UK's 350 largest publicly listed companies dropped to 32% in 2024, down from a revised 33% the previous year.
Although the decrease seems minor, Geeta Nargund, the chair of The Pipeline, told Reuters that it highlights a significant gap between male and female representation. She urged business leaders and recruitment professionals to draw from the wide pool of female talent to fill key decision-making roles, improve workplace culture, and ensure women have opportunities to succeed.
"It is unacceptable that gender representation in business leadership is regressing in 2024," she said. "Organizations that excel in gender parity are 22% more likely to see profit growth. Fair representation is not just a 'nice-to-have' or a box-ticking exercise—it's a business necessity."
The report also showed that women hold only 9% of CEO positions and 18% of CFO roles in FTSE 350 companies, even though women make up over 44% of chartered accountants.
In commercial roles within boardrooms—positions responsible for a company's profit and loss, which often serve as stepping stones to CEO and CFO roles—only 19% of women are represented, a decrease from 20% in 2023, according to data from research group BoardEx.
This report comes after former Prime Minister Rishi Sunak's government highlighted last year that the UK was leading in female representation, with women holding 40.2% of board positions at the top 350 listed companies, ahead of a 2025 target.
The UK's Financial Conduct Authority (FCA) also requires listed companies to have women in at least 40% of board positions or provide an explanation for not meeting the target. However, many of these board positions are non-executive roles, which lack the operational authority and decision-making power. Photo by Phil Whitehouse, Wikimedia commons.