Nearly a third of board positions at FTSE 350 companies are now filled by women, according to the 30% Club, a global initiative that advocates for greater representation of women on U.K.-listed company boards.
As of Sept. 30, there were 903 female directorships held by women out of a total of 3,008 positions, showed club data supplied by London-based analytics firm BoardEx on a pro bono basis. BoardEx gathers gender data quarterly for the 30% Club from annual reports and supplements its figures with information from company announcements.
The 2019 result compares with 9.5% of seats being filled by women in 2010, when the initiative was founded.
In addition, the 30% Club is pushing to increase FTSE 350 companies' commitment to more female leaders across the businesses after the club sent letters in August 2016 to all the CEOs of companies in the index, calling on them to take action aimed at reaching 30% female representation on their senior leadership teams by 2020.
"From here, we will continue to champion those boards who display great diversity, and question those who remain stubbornly in the 20th century with their all-male boards or their 'one and done' attitude to female representation," said Ann Cairns, global co-chairwoman of 30% Club, London, in a news release.
Ms. Cairns added: "Business in this day and age has changed — power lies with stakeholders who now represent all genders, ethnicities, religions, abilities and inclinations — and any company who cannot recognize that will fail to compete in the long run. I look forward to spending the next 10 years building upon our achievements so far."
