Boardroom diversity at the UK’s largest listed companies has fallen sharply.
The proportion of non-executive directors from minority ethnic backgrounds on the UK’s top 150 boards this year was down 44%. The proportion of women was down 15%, according to Spencer Stuart’s 2023 UK Board Index, and first-time appointments were down 30% year on year.
Chris Gaunt, head of the UK board and chief executive practice at Spencer Stuart, said: “These drops suggest that diversity – in terms of gender, ethnicity and fresh perspectives – has taken a back seat as boards turn to experienced listed company directors to meet these unprecedented times head on.”
At the chief executive and chair level, only three women and no people from an ethnic minority were hired for the 20 chief executive appointments in the period. There were double the number of chair appointments in 2023 compared with the previous year but only four women were appointed, against 18 men. By comparison, in 2022 there were six women and five men appointed.
