The proportion of women on FTSE 100 boards has topped 20% for the first time. Just two of the top companies – Antofagasta and Glencore Xstrata – now have all-male boards.
Of all board appointments since March 1 2013, 27% have gone to women. In addition, over a quarter of non-executive director roles are now held by females.
The new figures, from the Professional Boards Forum’s BoardWatch, suggests that the government target of having 25% of boards made up of women by 2015 can be reached without mandatory quotas. An additional 51 women will need to be appointed to reach the target.
The target followed a government-commissioned review, led by Lord Davies of Abersoch. When the review was first published three years ago, women made up 12.5% of FTSE board members and there were 21 all-male boards. The latest figures indicate the boardrooms are gradually becoming more gender equal. Research by McKinsey has suggested having more females in high ranking positions within top firms could boost the economy.
Despite the progress made, there are only four female CEOs in the FTSE 100 and only 13 companies have 30% or more women directors.
The number of women holding management position in the City of London has also been improving, doubling over 2013. Women now occupy one in eight top roles in the City, according to research published last year.
However, pay continues to be an issue. Separate research showed male managers received double the bonuses and 25% better salaries than females in similar roles.