The Hidden Truth 

Diversity and Inclusion in the FTSE All-Share

A second report from Women on Boards UK | June 2022



Our Hidden Truth report, now in its second year and published in partnership with global consulting firm Protiviti, monitors the gender and ethnic minority representation on FTSE All-Share boards – the 252 companies below the largest 350 companies (ex350). The report calls for ongoing and deeper scrutiny across listed companies to give a true picture of UK boardroom diversity.


Read the report 

The data reveals that while small gains have been made in the last 12 months, there is still a long way to go, as our CEO, Fiona Hathorn, explains:

“The data shows small gains compared to last year, which is a positive indication that UK firms are starting to take boardroom diversity seriously.  Board diversity is increasingly viewed as a baseline requirement for modern companies, so it’s incredibly disheartening to see stagnant progress in some areas. There remains a high number of firms yet to reach even the most minimal levels of diverse representation, at both executive and non-executive level. To these firms I say, catch up - and quickly."

The data this year shows there remains a stark ‘diversity divide’ between those firms leading and those lagging behind even minimal
standards for diverse representation:

  • 50% of UK firms in FTSE All-Share ex350 have no women in C-Suite positions

  • 44% of firms have not achieved the target of 33% women on boards 

  • A quarter of boards (25%) have one director of colour, up from 16% in 2021 - but 75% of boards are entirely white 

  • Companies with women CEOs have significantly more gender-balanced executive teams than those with male CEOs – 55% vs 14% respectively


Read the report


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