The representation of women in executive roles within corporate Britain has experienced a troubling decline, marking the first drop in eight years. A report from The Pipeline, a consultancy focused on gender diversity in senior corporate positions, revealed that the proportion of women on executive committees at the UK’s top 350 listed companies fell to 32% in 2024, down from a revised 33% in the previous year.
Geeta Nargund, chair of The Pipeline, described the situation as “unacceptable,” warning that this regression could set back efforts toward gender parity for up to five generations. She called on business leaders and recruitment firms to actively engage the vast pool of female talent available, stressing the need to transform workplace cultures so that women can succeed and thrive.
“It is unacceptable that gender representation in business leadership is moving backwards in 2024 …,” she said. “Organisations which are performing the best in terms of gender parity are 22% more likely to have improved profits … and so fair representation is not just a ‘nice to have’ or a tick-box exercise – it is a business imperative.”
The figures reveal a stark disparity at the highest levels of corporate leadership: women hold just 9% of CEO roles and 18% of CFO positions in FTSE 350 companies, despite representing more than 44% of chartered accountants. Additionally, only 19% of women occupy commercial boardroom roles—positions integral to a company’s profit and loss accountability and crucial for ascending to CEO and CFO roles. This figure has decreased from 20% in 2023.
This report comes in the wake of statements from former Prime Minister Rishi Sunak’s administration, which proclaimed that Britain was a frontrunner in female representation. They highlighted that women made up 40.2% of board positions in London’s leading 350 listed companies, ahead of a 2025 target.
Regulatory measures from the Financial Conduct Authority (FCA) require that listed companies appoint women to at least 40% of their board positions or provide a rationale for not meeting this target. However, it’s important to note that many of these board roles are non-executive, lacking the operational authority and decision-making power necessary for driving corporate strategy.