UK Sees Major Shift in Gender Diversity on FTSE 350 Boards

By: WE Staff | Wednesday, 25 February 2026

• Women occupy 43% of board roles in FTSE 350 firms, compared to 9.5% in 2011
• The FTSE Women Leaders Review tracks the progress of gender diversity
• The project is supported by the government, KPMG UK, and Lloyds Banking Group

In the UK, businesses have become increasingly committed to having a diverse board of directors that includes women; as of this date, 43 percent of board members of FTSE 350 major corporations are female, up from only 9.5 percent in 2011 (FTSE Women Leaders Report).

The UK Government, KPMG UK, and Lloyds Banking Group support the FTSE Women Leaders Review, which publishes progress reports by both FTSE 100 and FTSE 350 companies on meeting their goal to achieve a female board of directors realized in 40 percent of cases as of 31 October 2022, approximately 92 percent of FTSE 100 firms & 88 percent of FTSE 350 firms had met or were expected to qualify to meet at least minimum standards for future female members of their boards.

Further, nearly 1/2 of the Board members of nearest companies (NEDs) at FTSE 350 companies are female.

Approximately 78 percent of the 50 largest private sector companies in the UK have achieved or nearing their target of at least 40 percent female representation on their respective executive level leadership. 

Based on this analysis and observation, women's representation on corporate boards continues to be an area of focus requiring ongoing improvement.

While the number of females in particular executive positions (such as a chair or chief executive) remains low, as per statistics from 2023 regarding female representation on boards of directors within G7 nations, the United Kingdom ranks as having the second highest number of female directors behind France (which has implemented a quota-based system).

Chancellor Rachel Reeves commented “This report demonstrates where we have been successful, yet confirms we need to do more. We need to continue to create opportunities for women and encourage companies to use their underrepresented workforce more effectively, if we are to remain consistent in our global competitiveness.”

According to Business Secretary Peter Kyle, “We have made progress, but there is still much to accomplish. We will partner with businesses and investors to create additional pathways to economic health for women, thereby enhancing UK’s overall competitiveness and productivity.”