Four out of five top firms have never had a female chief executive, report finds
Four out of five companies across the FTSE 100 and S&P 100 have never had a female chief executive, as boards fail to promote them into positions of power earlier in their career, a new report has found. Across the two nations, 80 per cent of firms have never had a women lead the company, [...]
A new report has revealed that four out of every five companies in the FTSE 100 and S&P 100 have never had a female CEO. Despite many firms appointing women to board roles, just 38 out of 200 companies across the two indexes have appointed a female CEO since 1997. Of these, half have appointed a female CEO in the last ten years.
The report by Women in Work, known as the 30% Club UK, attributes this disparity to a failure among companies to promote women into "power roles" earlier in their careers, rather than a lack of talent. Pavita Cooper, chair of the 30% Club UK, emphasized the need for companies to promote women into senior operational roles, as women often take time out of the workforce during their 30s and 40s to care for family members.
This period, she noted, is when many women see their earnings and career progression peak. Cooper also highlighted the impact of "return to office" mandates, which are causing inconvenience for parents, particularly mothers. While some companies have seen success with women CEOs, such as Marjorie Scardino at Peason and Amanda Blanc at Aviva, Cooper stressed that individual corporate initiatives are not enough.
She called for wider societal changes, including government intervention in childcare provision and tax breaks.
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