Heidrick & Struggles Study Shows Fewer Women & Minority Appointments To UK Boards

Heidrick & Struggles’ 2025 Board Monitor found that of 305 new Financial Times Stock Exchange (FTSE) 350 board appointments in 2024, 50% went to women, down from 56% in 2023 and 58% in 2022. Ethnically diverse appointees accounted for 20%, a decline from 23% in 2023.

While representation broadly reflects UK population demographics, it does not address existing gaps — only 13% of board members are from minority ethnic backgrounds.

The study noted that Boards maintained commitments to gender equity and international experience, but slower progress risks widening disparities. Representation of women on AIM-listed boards remains lower, with only one in six seats held by women. New-to-board appointments also fell to 26%, lagging behind the US and France. Researchers warned that without renewed focus, diversity targets set in recent years may not be met. The findings come amid broader political and market pressures influencing corporate priorities.