Explore the latest data and trends in FTSE 350 board appointments
2024
Board Monitor UK
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CEO & Board Practice
Heidrick & Struggles’ CEO & Board Practice has been built on our ability to execute top-level assignments and counsel CEOs and board members on the complex issues directly affecting their businesses.
Europe CEO & Board of Directors Practice
Kit Bingham
London
kbingham@heidrick.com
Alice Breeden
London
abreeden@heidrick.com
2023 DATA
TRENDS DATA
Snapshot
FTSE 350 2023 board appointments at-a-glance
PROFESSIONAL EXPERIENCE
DIVERSITY
APPOINTMENTS OVERVIEW
Number and share of appointments
board appointments were made in 2023
294
of FTSE 350 companies that brought on at least one new director
59%
of seats went to first-time public board directors
24%
Professional experience
of seats went to retired executives
54%
went to those active in executive roles
46%
63%
of appointments went to directors with cross-sector experience
51%
of seats went to directors with international experience
C-suite experience (Share of appointments)
CEO
CFO
COO
35%
20%
12%
Other ethnicity
16%
Asian or Asian descent
78%
White
Race/ethnicity breakdown
of seats went to women
56%
Diversity
Arab or Middle Eastern
Black or African descent
4%
2%
1%
The average age was
58
Under 45
45–54
55–69
70+
N/A
3%
25%
62%
4%
6%
AGE AT APPOINTMENT
ETHNICITY
GENDER
CEO & CFO
BOARD EXPERIENCE
ACTIVE VS RETIRED
NUMBER OF SEATS
Trends, 2019–2023
2021
2022
2023
Black or African descent
Asian or Asian descent
Arab or Middle Eastern
Other minority ethnicity
Ethnicity diversity trends
And the share of seats going to directors of diverse ethnicities remained similar to the previous two years
Gender diversity trends (%)
There was a slight decrease in the share of seats that went to women
CEO
CFO
CEO & CFO experience (%)
The share of appointments for directors with CEO and CFO experience were similar to 2022
First-time board members (%)
The share of seats that went to first-time public board directors was at its lowest since 2019
38
35
40
49
46
Active executives (%)
The share of seats going to directors who are active in executive roles dipped slightly in 2023
2019
2020
2021
2022
2023
341
362
442
342
294
Number of seats filled
The appetite for board refreshments continued to decrease in 2023,
with the lowest number of appointments since 2019
White
100%
75%
50%
25%
0%
Average age at appointment
The average age of people who gained board seats in 2023 went up to 58
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This analysis is part of Heidrick & Struggles’ long-standing study of trends in board composition in countries around the world. Produced by our global CEO & Board Practice, these reports track and analyze trends in non-executive director appointments to the boards of the largest publicly listed companies in Australia (ASX 200), Belgium (BEL 20), Brazil (B3), Canada (TSX 60), Colombia (COLCAP), Denmark (OMX Copenhagen 25), Finland (OMX Helsinki 25), France (CAC 40), Germany (DAX and MDAX), Hong Kong (Hang Seng), Ireland (ISEQ), Italy (FTSE MIB), India (Nifty Top 200), Japan (TOPIX Core 30), Kenya (NSE Top 40), Mexico (BMV IPC), the Netherlands (AEX), New Zealand (NZX 10), Norway (OBX), Poland (WIG20), Portugal (PSI 20), Saudi Arabia (Tadawul), Singapore (STI 30), South Africa (JSE Top 40), South Korea (KOSPI 50), Spain (IBEX 35), Sweden (OMX Stockholm 30), Switzerland (SMI Expanded), the United Arab Emirates (ADX and DFM), the United Kingdom (FTSE 350), and the United States (Fortune 500). Information about executives is gathered from publicly available sources, BoardEx, and a Heidrick & Struggles proprietary database.
About the research
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2019
2020
2021
2022
2023
2019
2020
2021
2022
2023
31
32
36
28
24
2019
2020
2021
2022
2023
15
17
16
21
20
31
34
30
37
35
2019
2020
2021
2022
2023
51
51
54
58
56
N/A
2019
2020
2021
2022
2023
57
57
57
57
58
78
17
5
75
16
5
1
3
78
1
4
2
16
23%
Other C-suite
12%
COO
Leadership Agenda:
stay connected
Subscribe to our monthly newsletter for the latest expert insights and trends.
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Heidrick Insights
Explore the latest thought leadership from Heidrick & Struggles
LEARN MORE
CEO & Board of Directors Practice
Helping organizations lead with purpose to be the best they can be now and in the future
LEARN MORE
This analysis is part of Heidrick & Struggles’ long-standing study of trends in board composition in countries around the world. Produced by our global CEO & Board Practice, these reports track and analyze trends in non-executive director appointments to the boards of the largest publicly listed companies in Australia (ASX 200), Belgium (BEL 20), Brazil (B3), Canada (TSX 60), Colombia (COLCAP), Denmark (OMX Copenhagen 25), Finland (OMX Helsinki 25), France (CAC 40), Germany (DAX and MDAX), Hong Kong (Hang Seng), Ireland (ISEQ), Italy (FTSE MIB), India (Nifty Top 200), Japan (TOPIX Core 30), Kenya (NSE Top 40), Mexico (BMV IPC), the Netherlands (AEX), New Zealand (NZX 10), Norway (OBX), Poland (WIG20), Portugal (PSI 20), Saudi Arabia (Tadawul), Singapore (STI 30), South Africa (JSE Top 40), South Korea (KOSPI 50), Spain (IBEX 35), Sweden (OMX Stockholm 30), Switzerland (SMI Expanded), the United Arab Emirates (ADX and DFM), the United Kingdom (FTSE 350), and the United States (Fortune 500). Information about executives is gathered from publicly available sources, BoardEx, and a Heidrick & Struggles proprietary database.
About the research