Female representation on FTSE 100 boards has increased to 43.4% – equating to 1,275 roles – as British businesses drive gender equality.
According to new government-backed research released today (25 February), women now hold 6,473 or 35% of leadership positions at FTSE 350 firms.
The FTSE Women Leaders Review 2025, sponsored by Lloyds Banking Group and KPMG, showed a year-on-year growth. It indicates that more than three in five (60%) of these companies are also close to achieving the goal of 40% for women’s board-level representation by the end of this year.
Commenting on the findings, chancellor Rachel Reeves said: “The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels. We must break down the barriers that stop many women being represented in decision-making roles so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.”
As part of the government’s Plan for Change, it aims to promote economic growth by providing equal opportunities for women. The initiative focuses on ensuring fair access to stable, well-paying jobs, which is expected to contribute to higher living standards for the entire population.
Baroness Gustafsson, investment minister, said: “I know from founding my own business how strong female voices inspire positive change throughout an organisation, bringing new ideas and adding greater value.
“Today’s report shows that while the momentum is with us, we have so much further to go. Working with business leaders and investors, we will do everything we can to unlock more opportunities for women at the highest levels as we go for growth and deliver our Plan for Change.”
A global example
The UK is setting a global example in gender equality within boardrooms, ranking second in the G7 with 43.4% representation, just behind France at 45.4%. Unlike many countries that use quotas, the UK’s progress has been achieved voluntarily by the private sector, highlighting its capability to lead alongside government support without heavy regulation.
Vivienne Artz, CEO of the FTSE Women Leaders Review, said: “With its unique government-backed and business-led voluntary approach, the UK has spearheaded a world-leading transformation in the highest ranks of industry. Whilst FTSE 350 company boards are now gender-balanced, sustained effort and determination is required to achieve the 40% target for women in leadership by the end of this year. “We look forward to working with businesses to deliver on this ambition.”
The government’s prominent Employment Rights Bill and Plan to Make Work Pay aim to enhance women’s workplace rights. This legislation seeks to bolster protections for women experiencing menopause and provide safeguards against dismissal during pregnancy or maternity leave.
Penny James and Nimesh Patel, co-chairs of the FTSE Women Leaders Review, added: “The UK is nothing short of world-leading in driving gender balance at the top of business with business leaders delivering change through voluntary action rather than quotas. Despite many competing priorities companies continue to see equality of opportunity as key to improving productivity and achieving growth.
“Balance on FTSE 350 boards has been achieved and women’s representation on executive teams is steadily increasing but a step-up in commitment is required to deliver parity in the key leadership roles. “Over the coming year, we urge UK business to remain focused on sustaining momentum, harnessing all of the available talent and driving towards a business environment that offers opportunity for all.”
More work to be done
However, professor Geeta Nargund, chair of gender parity consultancy The Pipeline, said: “Though the Review showed a positive increase in women on FTSE 350 boards, which we are delighted to see, it is equally important that we acknowledge the existing chasm in representation at an executive committee level. These key roles, focused on decision-making and operations are where we need to see similar levels of change before we truly feel that there is a tangible shift in gender parity.”
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Reiterating that “we should not rest on our laurels just because change has been seen in one area”, she added that there is still a long way to go to achieve true parity – and the landscape is only getting harder for women in the workplace.
She said: “The US is pulling DEI processes, setting a worrying precedent for the rest of the world and highlighting that progress is fragile. Championing women and supporting them throughout the entire lifecycle of their career trajectory is of the utmost importance – not just for social benefit, but economic and business, too.”
