Investment Week | Board gender parity delayed to 2059 at current pace
Media Coverage 13th August 2021 1 minute read
'The Green Park Business Leaders Index 2021 reveals that women and minority ethnic groups are still being overlooked for top leadership positions in big companies', reports The Independent.
White men continue to dominate top executive leadership roles finds the report, highlighting diverse leaders tend to “hold less influence, have lower salaries and are less likely to be on track to c-suite roles”.
There are only 36 women holding the top leadership roles of Chair, CEO or CFO in the FTSE 100. This has increase by 23 roles since analysis began in 2014 where woman made up 4.3% of these roles. At this rate of change it will be 2059 before women hold 50% of the top 3 roles.
Female representation at Board and Executive Committee level has continued to grow steadily with gender parity predicted to be achieved in 8 years across both these areas.
When deeper analysis is done, women were disproportionately allocated into roles that are “traditionally less likely to lead to the top executive leadership spots” with 62.4% in Human Resources and 45.1% in Marketing and Communications. This ‘side-lining’ of women and ethnic minorities into less influential roles leads them to be overlooked for top leadership positions in big companies the report reveals.
Baroness Helena Morrissey said
“To achieve results at the most senior levels and to sustain progress for gender diversity on boards, leaders must believe diversity and inclusion is integral to the success of their firm and embed this into the business agenda.
We need to see more leaders become true allies with their own goals bound together with this of their diverse talent.”
The above is a summary of an article published in The Independent 11/8/21. For the full article, please click here.