Heidrick and Struggles’ (Nasdaq: HSII) today released its annual Board Monitor Europe as well as its FTSE Chairs 2020 Report, analysing challenges facing boards, board compositions across Europe, and insights from FTSE Chairs. The reports found that while women attained 51% of new U.K. appointments in 2019, in line with diversity targets and requirements for diversity disclosures, female representation in board leadership positions only increased by a paltry 13% over the past three years.

Despite 51% of U.K. Board Appointments Going to Women, Men Still Hold 92% Of FTSE 100 Chair Seats

Commenting on the findings, Sharon Sands, Global Head of Leadership Assessment, Development and Coaching for Heidrick Consulting, said “It is widely accepted that more diverse boards make better decisions, so it is encouraging to see more and more women appointed to boards each year. However, the mandate now is to build on our progress and nurture diversity at the highest strata of board leadership.”

Brexit was also a significant factor shaping the composition of boards of companies on the United Kingdom’s FTSE 350, with risk mitigation expertise and international experience the most sought-after skills. The Board Monitor found that in the 341 director seats filled in the U.K. in 2019, appointments have reflected a renewed focus on efficiencies, cost-cutting, and intelligent restructuring in anticipation of Brexit. A significant increase was recorded in seats filled by executives with financial risk expertise, which rose from 4% in 2018 to 39% in 2019.

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