Top British companies are continuing to lead the way for gender equality in boardrooms, with new research showing that women occupy 43% of roles on FTSE 350 company boards. 

The government-backed FTSE Women Leaders Review report for 2025 shows that women now occupy 1,275 or 43% of roles on company boards and 6,743 (35.3%) of leadership roles across the FTSE companies, up slightly from 34.5% in 2023.

Despite many competing priorities, companies continue to see equality of opportunity as key to improving productivity and achieving growth, the report finds. In February 2022, the FTSE Women Leaders review increased the voluntary target for women’s representation on FTSE 350 Boards and leadership teams to a minimum of 40% by the end of this year.

Half of FTSE 350 have female SID

The number of women senior independent directors (SIDs) has increased to 192 across the FTSE 350 in 2024, up from 162 in 2023. It means that more than half of FTSE 350 companies (56%) have a female SID. However, female representation across senior decision-making roles, including the CFO, continues to lag behind.

In the FTSE 350, the number of women in the chair role has increased from 53 in 2023 to 60 in 2024, representing just 17%. The percentage of female finance directors has increased from 48 in 2023 to 57 in 2024, but still represents just 22%. However, the number of female CEOs has reduced from 20 in 2023 to 19 in 2024.   

Penny James, ICAEW member and Co-Chair of the FTSE Women Leaders Review, describes the UK as world-leading in driving gender balance at the top of business with business leaders delivering change through voluntary action rather than quotas.

“Over the past 15 years, we have seen significant progress in the representation of women at the top of British industry. FTSE 350 boards are now gender-balanced and the majority of the largest UK companies are within striking distance of 40% female representation in leadership roles.” 

Decision-making roles need more attention

However, there is still much work to be done to achieve gender equality in the senior decision-making positions of chair, CEO and finance director, James warns.

“While the number of women FDs has increased year on year, particularly in FTSE 100 companies, we need to double down on our efforts to reach parity. Breaking down barriers, harnessing female talent and building the executive pipeline are key to creating successful businesses and ensuring equality of opportunity for all,” she says.

Gender equality at heart of UK growth mission

Delivering equal opportunities for women is at the heart of the government’s growth mission as part of the Plan for Change. The government has said it recognises there is still more to do and has pledged to work with FTSE companies and other organisations to ensure that everyone has an equal opportunity to achieve their full potential based on their talent.   

Chancellor of the Exchequer Rachel Reeves says: “The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels. We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.”

Bina Mehta, Chair of KPMG LLP, which alongside Lloyds Banking Group sponsored the report, says: “With the final year of the FTSE Women Leaders Review ahead, I’m delighted we have continued to make substantial progress in achieving greater gender balance in senior roles, something that reflects many years of voluntary effort and collective action.

“It’s particularly encouraging to see the progress made by the UK’s top 50 private companies in their first three years of reporting. These companies are keeping pace with the FTSE 100 and are currently reporting 35% of executive committee roles are held by women.”