A consultancy had on Thursday, October 17, said that the number of women who hold executive reins in corporate Britain has dipped for the first time in eight years – a phenomenon that has been tagged as an “unacceptable” reversal that could slow down gender parity for another five generations.
The Pipeline, skilled at analysing gender diversity at senior corporate levels had said that the average proportion of women on executive committees at Britain’s 350 biggest, listed companies dropped to 32% in 2024 from a revised 33% in 2023.
While the drop appears insignificant, Geeta Nargund, the group’s chairman had told Reuters that it indicated a sharp disconnect with male numbers and encourages business leaders and headhunters to use the vast pool of female talent to fill decision-making roles, fix cultures and ensure that women can thrive in the workplace.
“It is unacceptable that gender representation in business leadership is moving backwards in 2024 ” Nargund said, adding that “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.”
The Pipeline’s 2024 Women Count report revealed that women only held 9% of chief executive (CEO) roles on FTSE 350 companies and 18% of top finance (CFO) positions – although they account for more than 44% of chartered accountant roles.
According to the data, sourced from a research group, only 19% of women currently hold commercial boardroom jobs. These roles account for a company’s profit and loss and can lead to jobs as a CEO and CFO, but this number is now down from 20% in 2023.
The latest report is coming after former Conservative Prime Minister Rishi Sunak’s government stated last year that Britain was a leader for female representation because women held 40.2% of board positions on London’s top 350 listed companies – ahead of a 2025 deadline.
