The number of companies with at least a third of board positions held by women has quadrupled to 220 over the same period.
“It’s hard to believe that as recently as 2011, 43% of the FTSE 350 [index] still had all-male boards,” Mary O’Connor, acting senior partner at KPMG UK, said in a statement. “Thankfully the representation of women on boards and in leadership positions has significantly improved in recent years, with this review having played a critical role in realizing that,” she added.
The government-backed review was launched in 2016 to encourage UK-listed companies to voluntarily appoint more women to their boards and into leadership positions. The latest review found that the number of boards with only one woman fell from 116 in 2015 to 16 as of last month.
In general, the review found that progress is lacking when it comes to appointing women into the most senior executive roles, such as CEO positions.
“The lack of women in the boardroom is where it all started a decade ago, and it’s the area where we have seen the greatest progress. But now we need to achieve the same, if not more, gains for women in leadership,” said Hampton Alexander Review CEO, Denise Wilson.
Companies in Britain and elsewhere are facing increasing pressure from investors and the public to tackle the lack of gender and racial diversity in senior leadership.
It said in a statement that it will flag to shareholders FTSE 350 companies that do not disclose the ethnic diversity of their boards or do not have a plan to hire at least one board director this year who does not identify as White.