The variety of girls on the boards of administrators of the UK’s 350 prime publicly traded corporations has jumped by greater than 50 % since 2015, however girls are nonetheless underrepresented in senior government roles.
Women now maintain greater than a 3rd of the seats on the boards of the United Kingdom’s largest corporations, assembly a authorities goal set 5 years in the past.
The variety of girls on the boards of administrators of the UK’s 350 prime publicly traded corporations has jumped by greater than 50 % since 2015, which means that 34.three % of all board seats are actually held by girls, an unbiased panel stated in a report printed Wednesday. Women maintain a minimum of one-third of the board seats at 220 corporations, up from 53 5 years in the past.
While corporations met the goal for board membership, girls nonetheless lag behind within the competitors for senior government roles, notably at smaller corporations. Women maintain 26.5 % of government committee seats on the 100 largest corporations and simply 21.7 % of those seats at smaller corporations.
“The progress has been strongest with non-executive positions on boards, but the coming years should see many more women taking top executive roles,” stated Philip Hampton, the previous chairman of Royal Bank of Scotland who led the panel. “That’s what is needed to sustain the changes made.”
The UK authorities set the one-third aim as a part of an effort to encourage companies to voluntarily improve the variety of girls on their boards and in senior government roles. Other nations, together with France, Norway, Sweden and Italy, have set legally binding quotas.
Women maintain 43.eight % of the board seats at corporations in France’s 40 largest publicly traded corporations, the UK panel stated. The corresponding quantity for Norway is 39.5 %, Sweden 37.three % and Italy 36.5 %.
Business Secretary Kwasi Kwarteng stated he hoped the UK’s voluntary approach would supply an instance for different nations.
“The UK government’s voluntary, business-led approach to increasing women’s boardroom representation has been hugely successful and will, I hope, serve as a blueprint for countries across the world looking to make business more reflective of society,” Kwarteng stated in a press release.