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2024
Board Monitor UK
Explore the latest data and trends in FTSE 350 board appointments
Snapshot
FTSE 350 2023 board appointments at-a-glance
Diversity
Race/ethnicity breakdown
78%
White
4%
Black or African descent
16%
Asian or Asian descent
2%
Arab or Middle Eastern
1%
Other ethnicity
58
The average age was
62%
25%
6%
4%
3%
Under 45
45–54
55–69
70+
N/A
56%
of seats went to women
Professional experience
54%
of seats went to retired executives
46%
went to those active in executive roles
24%
of seats went to first-time public board directors
C-suite experience (Share of appointments)
35%
CEO
20%
CFO
12%
COO
23%
Other C-suite
63%
of appointments went to directors with cross-sector experience
51%
of seats went to directors with international experience
Trends, 2019–2023
The appetite for board refreshments continued to decrease in 2023,
with the lowest number of appointments since 2019
Number of seats filled
442
362
342
341
294
2019
2020
2021
2022
2023
There was a slight decrease in the share of seats that went to women
Gender diversity trends (%)
58
56
54
51
51
2019
2020
2021
2022
2023
The share of appointments for directors with CEO and CFO experience were similar to 2022
CEO & CFO experience (%)
CEO
CFO
37
35
34
31
30
21
20
17
16
15
2019
2020
2021
2022
2023
And the share of seats going to directors of diverse ethnicities remained similar to the previous two years
Ethnicity diversity trends
Black or African descent
Asian or Asian descent
Arab or Middle Eastern
Other minority ethnicity
White
N/A
3
78
78
75
1
1
17
2
16
16
5
5
4
100%
75%
50%
25%
0%
2021
2022
2023
The share of seats that went to first-time public board directors was at its lowest since 2019
First-time board members (%)
36
32
31
28
24
2019
2020
2021
2022
2023
The share of seats going to directors who are active in executive roles dipped slightly in 2023
Active executives (%)
49
46
40
38
35
2019
2020
2021
2022
2023
The average age of people who gained board seats in 2023 went up to 58
Average age at appointment
58
57
57
57
57
2019
2020
2021
2022
2023
CEO & Board of Directors Practice
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About the research
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.
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.
Kit Bingham
London
kbingham@heidrick.com
Alice Breeden
London
abreeden@heidrick.com
Europe CEO & Board of Directors Practice
Copyright @ 2024 Heidrick & Struggles International, Inc.
All rights reserved. Reproduction without permission prohibited.