Women at FTSE 100 firms won’t gain equality until 2076, study finds

The FTSE 100 won’t reach CEO gender parity until 2076, a new analysis has found.

Diversity, equity and inclusion consultancy and global network INvolve has found that, with the average age of a FTSE 100 CEO being 56 years old, the first women to have an “equal” chance of becoming a FTSE 100 CEO as their male peers are currently three years old. They are most likely starting pre-school this month.

The research, released to mark the release of INvolve’s annual Heroes Women Role Model Lists, demonstrates that although there has been some progress, with the number of women CEOs increasing from one in 2013 to 10 in 2023, change needs to happen fast if gender equality at the helm of UK businesses is to be achieved much before 2076.

According to INvolve, efforts made to ensure women are offered the same opportunities as men within business, such as the targets for board gender diversity, which have been met and exceeded, are not translating into change at the CEO level. And while the analysis centred on CEOs of the FTSE 100 specifically, this issue was endemic across all leadership and companies in the UK, the study’s authors maintain.

Suki Sandhu OBE, founder and CEO of INvolve, said progress was not sufficiently rapid: “As our analysis demonstrates, the work being done for gender equality currently is clearly not moving the needle fast enough and it’s extremely disappointing. We shouldn’t have to and will not wait until 2076 to see women being offered the same opportunities as men and making it to CEO positions in the UK at the same rate as their male counterparts.”

He added that the FTSE 100 should be leading the way for all other businesses, ensuring women and men are represented equally at all levels. This might include deploying development programmes designed specifically for women to support them into senior roles, or flexible working arrangements to fit around childcare or other responsibilities and ensure they can remain at work and excel in their roles.

INvolve said that one immediate step that companies large and small could take was to implement robust menopause support policies to support the estimated 13 million women of menopause age at work in the UK. “Given the average age of a CEO is similar to that of a woman going through menopause, supporting these women is one way to make them more likely to be able to naturally progress into CEO positions,” Sandhu said.

Karen Blackett, UK president of media business WPP, who tops the 2023 list of Heroes Women Executives, added that “what I have witnessed and experienced when we have more women in leadership roles is better decision-making due to less group-think, more inclusivity and empathetic leadership. We know these traits have a positive impact on our teams: individuals feel less pressured to mask and cover who they are, egos are actively encouraged to be left at the door and people feel more empowered to show up and contribute. All of this leads to a more open culture, even greater creativity and a happier workforce.”

The research comes as INvolve releases its annual Heroes Women Role Model Lists supported by YouTube, which celebrate leaders who are championing women in business and driving gender diversity in the workplace. This year’s list represents 20 countries.

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