Ten years on from the first Cranfield Female FTSE Report, the number of directorships held by women on FTSE 100 corporate boards has risen by only 5%, the Cranfield School of Management has revealed. The 2008 Female FTSE research revealed a slight increase bringing today’s total to 131 (12%). 

Ten years ago the report revealed there were a paltry 79 (7%) female-held directorships on the FTSE 100 boards.

The school described the increase as “alarmingly small”, but nonetheless argued there were some encouraging underlying shifts in this year’s report.

There was an increase in female chief executive officers (CEO) to five in the FTSE 100 and an additional three more divisional or regional CEO posts held by women, which is an all-time high. 

There are now two female chairmen of FTSE 100 companies and 17 female executive directors. The number of women holding these directorships totals 113, up from 66 10 years ago.

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The report stated the most promising increase is in the number of companies with multiple women on the board, with 39 companies now boasting two or more women on their boards compared to just 13 a decade ago. 

Top of this year’s index is Alliance Trust which is new to the FTSE 100, and has three women (43%) on its board of seven, and is unique in including a female chairman and a female CEO. 

AMEC and Marks and Spencer come next, both with 33% female boards. 

Harriet Harman, Minister for Women and Equality, noted many British boardrooms were still no-go areas for women, and argued this needed to be rectified as without women in the boardroom there will never be truly family-friendly workplaces.

She continued: “This year’s Female FTSE index is a reminder that we have come a long way, but have much further to go.”

Ruth Sealy, co-author of the report, argued that it is only once there is a critical mass of women in boardrooms that a real culture change can take place.

She continued: “We identified 1877 women on the boards and executive committees of smaller listed companies, a huge pipeline of talent to feed the larger FTSE boards.” n