Annual study highlights continuing lack of female directors on FTSE 100 boards

The 2009 ‘Female FTSE Board Report' from the University of Cranfield School of Management has revealed that women hold only 12% of the directorships on FTSE 100 corporate boards. This figure remains unchanged from 2008. 113 women hold 131 directorships, compared to 834 men holding 947.

The number of number of companies with female executive directors (15), the number of boards with multiple women directors (37), and the number of companies with female CEOs (four) have all decreased.

One in four of the FTSE 100's constituent companies now has an exclusively male board.

Report co-author Dr Ruth Sealy commented: "Interestingly, for both men and women, there has been a decline in the percentage of directors holding two seats and an increase in those holding three seats. This suggests that some organisations are sticking with the elite pool of directors that they know. Obviously, this does not help expand the talent pool."

Thankfully there is a glimmer of hope on the horizon. The report has also uncovered a considerable increase in the number of women at executive committee level. 77 of the FTSE 100 companies (up from 71 last year) have a total of 175 (substantially up from 139) women in their top executive teams.

There is also a compelling business case. The report shows an apparent correlation between commercial success and diversity of leadership: market capitalisation is significantly higher in companies with women on the board.

A copy of the report, sponsored by PricewaterhouseCoopers, Sainsbury, Aviva, HSBC and Pearson, can be download here: www.som.cranfield.ac.uk/som/ftse