Most FTSE 350 constituents’ boards have 40% women, the annual FTSE women leaders report found, with this target being met in 2022, three years ahead of the December 2025 deadline.
In the last decade female board members on FTSE 350 companies have increased by 164% to 431, the report added.
Some of the most gender-diverse boardrooms include:
• Scottish American Investment (80%)
• Diageo (64%)
• Greggs (63%)
• Greencoat UK Wind (60%)
• Shell (54%)
• Vodafone (54%)
“Reaching the 40% target for women on boards early is cause for celebration,” said Ivan Menezes, chief executive officer at Diageo, adding the research had “enabled companies to demonstrate their commitment to positive change and reap the rewards of a diverse workforce.”
However, the report did not shy away from highlighting the companies which had missed these targets- with some still behind the 33% target set for 2020.
Arguably the worst FTSE 100 company for gender equality is Frasers Group, Mike Ashley’s company which owns Sports Direct and House of Fraser.
The company ranks the second lowest out of the FTSE 100, with only 2 females on its 7-person board.
Across the whole company, the number of women in leadership is even lower, 16.2%, according to the review.
Some of the FTSE 350 companies’ boards with the worst female-male balance:
• Urban Logistics REIT (16.7%)
• AG Barr (22%)
• Wetherspoon (22%)
• Darktrace (22%)
• Mitchells and Butlers (22%)
• GSK (27%)
One of the least gender-diverse FTSE 250 companies is Aston Martin Lagonda Global Holdings, which has an all-male executive committee, three women on a 13-person board and only 18% of leaders are female.