London: The number of women holding executive positions in corporate Britain has declined for the first time in eight years, marking an “unacceptable” reversal that could push back gender parity by another five generations, according to a report released by The Pipeline on Thursday.
This consultancy, which specializes in analyzing gender diversity at senior corporate levels, reported that the average proportion of women on executive committees at Britain’s 350 largest publicly listed companies has dropped to 32% in 2024, down from a revised 33% last year.
While the decline may seem minor, Geeta Nargund, the chair of The Pipeline, highlighted a significant disconnect with the male representation and urged business leaders and headhunters to tap into the vast pool of female talent to occupy decision-making roles, transform corporate cultures, and create environments where women can flourish.
“It is unacceptable that gender representation in business leadership is moving backwards in 2024 …,” Nargund stated.
“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,” she added.
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Despite the ongoing challenges, women still occupy only 9% of chief executive (CEO) roles within FTSE 350 companies and hold 18% of top finance (CFO) positions, even though they make up over 44% of chartered accountant roles, as detailed in The Pipeline’s 2024 Women Count report.
Moreover, only 19% of women hold commercial boardroom positions—roles responsible for a company’s profit and loss and pathways to CEO and CFO positions—down from 20% in 2023, based on data sourced from research group BoardEx.
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This latest report emerges following claims from former Conservative Prime Minister Rishi Sunak’s government, which stated last year that Britain was a leader in female representation, with women holding 40.2% of board positions among London’s top 350 listed companies, ahead of a 2025 deadline.
Additionally, the Financial Conduct Authority (FCA) mandates that listed companies appoint women to at least 40% of board positions or explain any shortfall. However, it is crucial to note that board positions often include non-executive roles, which typically lack operational authority and decision-making capabilities.
