LONDON: The proportion of women occupying executive leadership roles within corporate Britain has experienced a decline for the first time in eight years, marking a "unacceptable" reversal that could prolong the attainment of gender parity by an additional five generations, according to a consultancy firm.
The Pipeline, a firm dedicated to the analysis of gender diversity at senior executive levels, reported that the average representation of women on executive committees within the 350 largest, publicly listed companies in the United Kingdom fell to 32% in 2024, a decrease from the revised figure of 33% recorded in the previous year.
While the decrease may seem minor, Geeta Nargund, the firm's chair, emphasized to Reuters that this shift underscores a significant disparity with male representation and called for business leaders and recruiters to leverage the extensive pool of female talent available to fill executive roles, amend organizational cultures, and ensure the success of women within the workplace.
"It is unacceptable that the representation of women in business leadership is moving in the wrong direction in 2024," Nargund stated.
She further highlighted that organizations achieving the highest levels of gender parity are 22% more likely to experience improved profitability, underscoring that fair representation is not merely a "nice to have" or a superficial exercise but a critical business necessity.
The report also noted that women continue to occupy only 9% of chief executive officer (CEO) positions within the FTSE 350 index and 18% of chief financial officer (CFO) roles, despite accounting for over 44% of chartered accountant positions, as indicated by The Pipeline's Women Count report for 2024.
Furthermore, the data, which is based on research from BoardEx, revealed that only 19% of women are in commercial boardroom positions, which are responsible for overseeing a company's financial performance and can lead to senior executive roles such as CEO and CFO. This figure represents a decrease from 20% recorded in the previous year.
The latest findings come at a time when the government of former Conservative Prime Minister Rishi Sunak announced in the previous year that Britain was leading in female representation, with women holding 40.2% of board positions within London's top 350 listed companies, surpassing the 2025 target.
Additionally, the Financial Conduct Authority (FCA) mandates that listed companies must allocate at least 40% of board positions to women or provide a rationale for not meeting this target.
However, it is important to note that board positions include non-executive roles that do not confer operational authority or decision-making capabilities.
