EY finds two-year decline in female executives on FTSE 250 boards

The number of women holding executive directorships on FTSE 250 boards has fallen 11% in the last two years, from 47 in 2022 to 42 in 2024.

According to Cranfield University’s latest Female FTSE Board Report, supported by EY, women now represent just 12% of executives across these companies.

Research found that 42% of overall directorships on FTSE 250 boards are currently held by women, an increase of 3% from 2022.

Alongside this, 174 FTSE 250 companies have at least 40% females on their board, meaning 70% have now met the Women Leaders Review target.

Of the 793 women holding directorships on FTSE 250 boards in 2024, just ten CEOs, a 17% decline from 2022, while 23 are CFOs, a 12% decline from 2022.

Furthermore, 35 are chairs, unchanged from 2022, and 125 are Senior Independent Directors, 50% increase from 2022.

This means the increase in female representation in directorships on FTSE 250 boards was solely driven by women in NED roles.

Sue Vinnicombe, professor of women and leadership at Cranfield School of Management, said: “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.

“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. To say that’s disappointing in 2024, 25 years on from when I started this report, is a huge understatement. 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.”