FTSE 350 hits boardroom gender balance target three years early

Diverse group of men and women in a boardroom meeting


FTSE 350 companies have met their target of 40% Women on Boards, three years ahead of the 2025 deadline.

Currently, 40.2% of FTSE Board positions are now held by women, according to new findings from the government-backed FTSE Women Leaders Review, which was launched today.

Sponsored by Lloyds Banking Group and KPMG, the report tracks the progress being made in breaking down barriers to progression of talented women into directorships and senior executive roles across business.

Today’s findings demonstrate steady progress in getting women leaders to the top of the table of business in the UK, with women’s board representation increasing by nearly 3% in 2022 across the FTSE 350. FTSE 350 leadership positions below the board for women are now at 33.5% and at 34.3% for the 50 of the UK’s largest private companies, published for the first time this year.

Women now hold a third of all leadership roles in FTSE 350 companies too, a huge milestone that shows the continuing progress that is ongoing throughout businesses. The next critical goal for business is to achieve a target of 40% of women in FTSE 350 leadership teams before 2023 – which UK business is on-track to meet.

Speaking about the report, Business and Trade Secretary and Women & Equalities Minister, Kemi Badenoch said, “I’m pleased to see that FTSE 350 companies have surpassed this target, showing that change doesn’t always require top-down interventions but can occur when everyone is pushing in the same direction.”

“This progress is very welcome, and I’d urge business to keep up this momentum to achieve better balance in leadership positions as well as in boardrooms.”

Minister for Women, Maria Caulfied added, “Making sure the right people are in the top roles is not just morally right, it makes good business sense. I’m delighted to see this huge progress, years ahead of when we expected it.”

“By working together, industry and government can make sure inequality is a thing of the past – which is good for individuals, for businesses, and for our country.”

Today’s results secure the UK in second place when compared internationally to other countries driving for more women on top public listed boards.

This is especially notable, as the scope of the UK achievement is across 350 public listed companies, and progress has been achieved on an entirely voluntary basis, rather than by a mandatory quota system that is enforced on businesses in many countries.


The average pay for female directors is now £246,000 compared to £935,000 for men.

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