30% Club EXCLUSIVE: ALL-MALE BOARDS DISAPPEAR ACROSS FTSE 350

ALL-MALE BOARDS DISAPPEAR ACROSS FTSE 350

 

London, UK, 19 February 2021: The 30% Club is delighted to announce there are now no all-male boards left across the FTSE 350 as of this month. 

The development emerges as we publish our latest monthly statistics - courtesy of BoardEx - on female representation across the boardrooms and executive committees of companies listed on the FTSE 100 and FTSE 250. 

The disappearance of all-male boards happened for the first time in the history of the London Stock Exchange last May. The government-backed Hampton-Alexander Review reported the milestone had been achieved, only for all-male boards to return to the FTSE 350 a month later.

Ann Cairns, global chair of the 30% Club and executive vice-chair of Mastercard, said: “The eradication of all-male boards across Britain’s 350 biggest companies is cause for celebration, particularly at a time when Covid-19 threatens progress in women’s equality. Time and again research has shown companies with diverse boardrooms and senior leadership outperform their peers. Simply put, diversity is good for business.

“However, there is still lots more work to be done to make sure all-male boards remain a thing of the past. Last year’s fleeting experience of their disappearance across the FTSE 350 proves how fragile progress in the UK’s corporate gender diversity remains.

“And there’s even more work to do to bring female representation up to parity on those boards, let alone boost the numbers of female chairs, CEOs and CFOs.

“We’re just a week away from the final report of the Hampton Alexander Review. We know its target of a minimum 33% of women on boards of the FTSE 350 by the end of 2020 was met. But 30% Club data – published courtesy of BoardEx – indicates the same target for the executive committee level of those companies has been missed. The current percentage stands at 21.5%, according to figures to 16 February.”

View our February statistics here.  

ENDS

Contact: 30% Club campaign manager Laura Whitcombe, laura@30percentclub.org, or media@30percentclub.org

Note to editors: BoardEx must be cited as data source.

About us: Ann Cairns is the global chair of the 30% Club, executive vice chair of Mastercard and lead non-executive board member at the Department for Business, Energy and Industrial Strategy (BEIS). She is also the chair of ICE Clear Europe, the chair of the Financial Alliance for Women and serves as a member of the UK government’s AI  Council and the IBDE advisory board.

The 30% Club is a global campaign led by Chairs and CEOs taking action to increase gender diversity at board and senior management levels of the world’s biggest companies. We set targets of a minimum of 30% female representation at the board and executive committee levels. This is the critical mass at which research shows minority voices are heard. However, the ultimate goal is parity.

Under the leadership of Global Chair, Ann Cairns, the campaign continues to expand its international footprint with presence in 20 countries around the world. We support diversity in its very broadest sense and while gender has been our starting point, we fully realise that considerations of ethnicity, disability, sexual orientation, socioeconomic background and beyond are all part of the journey - and that gender identities are themselves evolving rapidly. We believe that only those organisations that foster truly inclusive cultures - cultures that embrace women who look, act and, importantly, THINK differently - can reach their full potential to positively impact their people, their markets and their communities.

30% Club UK Chapter’s 2023 Targets

  • Beyond 30% representation of women on all FTSE 350 boards, to include one person of colour. We support the Parker Review goals for at least one person of colour on every FTSE 350 board - in addition, we advocate for gender balance with half these seats going to women, creating 175 board seats for women of colour.
  • Beyond 30% representation of women on all FTSE 350 Executive Committees, to include one person of colour. We advocate for gender balance with half these seats going to women, creating 175 executive committee roles for women of colour.
  • Beyond 30% of all new FTSE 350 Chair appointments to go to women between now and 2023.