The number of women in executive level roles at FTSE 250 companies has fallen by more than a 10th in the past two years, new analysis shows.
Gender diversity across boardrooms is increasing, but fewer women are reaching the top positions, according to the latest report by Cranfield University and EY.
It showed there were 42 women executive directors on FTSE 250 boards in 2024, down from 47 in 2022.
It means women now represent 12% of executives across some of the UK’s biggest listed companies.
The number of women holding the most senior executive roles has stagnated over the past two years.
The persistent reality remains, that the glass ceiling for women in executive level positions is still stubbornly in place
Of the 793 women holding directorship positions on FTSE 259 boards in 2024, ten are chief executives and 23 are finance chiefs, both fewer than in 2022, and 35 are chairwoman, the same as in 2022.
Nevertheless, a 50% increase in the number of women in non-executive director (NED) roles over the same period has driven an overall increase in female representation in boardrooms.
Sue Vinnicombe, professor of women and leadership at Cranfield School of Management, said it was a “huge understatement” to say the lack of women in top positions was “disappointing”.
“With the percentage of women in director roles meeting the Women Leaders Review targets, the headlines look great but the persistent reality remains, that the glass ceiling for women in executive level positions is still stubbornly in place.
“An ‘executive gender paradox’ across FTSE 250 boards has emerged, as the gap between the number of women in NED roles and executive roles grows.”
Some 70% of FTSE 250 companies have met the Government-backed FTSE Women Leaders Review voluntary target, which says boards and leadership teams should have a minimum of 40% female representation by the end of 2025.
“Through their own tenacity, drive and experiences some women do make it to the top positions, but once they get to the c-suite they often find themselves unsupported and in a male dominated environment,” Ms Vinnicombe added.
“It’s clear that many issues must still be addressed before we can really expect to see significant and meaningful change in the number of women executive directors.”
