Key facts
- Pavita Cooper, chair of the 30% Club, is launching a '30 by 30' campaign to increase female CEOs in the FTSE 100 to 30 by 2030.
- Currently, only eight women lead FTSE 100 companies, a number that has seen little progress.
- When male CEOs depart, 90% are replaced by men, while only 50% of departing women are succeeded by female leaders.
- The campaign aims to address the perceived psychological risk and lack of momentum surrounding women in top corporate roles.
- The 30% Club also seeks to achieve 50% female representation in management teams by 2035.
Pavita Cooper, the UK Chair of the 30% Club, is spearheading a new initiative called '30 by 30' aimed at significantly increasing the number of female chief executives in the FTSE 100 by 2030. This campaign comes amid growing concern that women are being systematically excluded from top corporate positions, with current data showing only eight women leading FTSE 100 companies, a figure that has seen minimal improvement since 2010 despite a rise in overall female board representation.
Cooper highlighted a stark disparity in succession planning: when male CEOs leave their positions, 90% are replaced by men, whereas only 50% of departing women are succeeded by female leaders. This pattern, coupled with recent high-profile departures of female CEOs being replaced by men, underscores the need for renewed focus on gender diversity at the highest levels of corporate leadership. The campaign, set to launch at the London Stock Exchange, will urge company chairs to actively work towards this goal.
Cooper's personal reflections reveal a career often spent as a minority, frequently being the only woman or person of color in boardrooms. She believes there is a psychological barrier and perceived risk associated with appointing women to top jobs, which she argues is unfounded. The 30% Club's broader mission, established by Baroness Helena Morrissey, is to ensure diverse representation not just on boards but also in executive teams, with a target of 50% female representation by 2035, fostering an environment where all employees have opportunities to thrive.