The headlines look promising. Women now hold 43% of board positions across the FTSE 350, and the UK is second only to France among the G7 for women on boards (FTSE Women Leaders Review, 2026). Progress, it seems, is being made.
Look more closely and a different picture emerges. Women hold just 8% of FTSE 350 CEO roles (FTSE Women Leaders Review, 2026). The review itself calls the number of women CEOs the standout statistic amongst a sea of progress. The glass ceiling has not shattered. It has moved higher.
The executive gender paradox
Research from Cranfield University has identified what it calls an executive gender paradox. While overall female representation on boards continues to rise, the number of women in executive positions has fallen. Across FTSE 250 companies, women holding executive directorships dropped 11% between 2022 and 2024, from 47 to 42, leaving women at just 12% of executives in those companies (Cranfield University Female FTSE Board Report, 2024).
The rise in female board representation has been driven almost entirely by non executive appointments. Non executive director roles in the FTSE 350 are now at gender parity, while women hold about one in six executive board roles (FTSE Women Leaders Review, 2026). Non executive directors provide oversight and governance. They do not run companies. The roles that lead to CEO, the executive positions with profit and loss responsibility, the finance director and chief operating officer roles, remain overwhelmingly male. Women hold 17% of FTSE 350 Chair roles and 21% of Finance Director roles (FTSE Women Leaders Review, 2026).
Why the CEO role matters
Some argue that board representation is what counts, that women in governance roles ensure female voices shape direction. But executive leadership, and the CEO role above all, has a different and greater impact on culture, policy and performance than non executive positions.
The business case is well established. Companies in the top quartile for gender diversity on executive teams are 25% more likely to have above average profitability (McKinsey, Diversity Wins, 2020), and moving from no women in corporate leadership to a 30% share is associated with a 15% increase in profitability for a typical firm (Peterson Institute for International Economics, 2016).
The pipeline problem
The CEO shortage is not only about decisions at the top. It is a pipeline issue that starts much earlier. Women are under represented in the roles that traditionally lead to CEO, operational roles with profit and loss responsibility, international assignments, and line management of large teams.
Grant Thornton warns that the progress achieved so far is fragile, pointing to a sharp fall in the percentage of female CEOs in its own research and describing it as a warning that getting women into senior management is not enough, they have to be kept there (Grant Thornton, Women in Business report, 2024). If a female CEO leaves, there is often no woman ready to step into the role, because the pipeline does not exist.
What senior women can do
If you are already in a senior position, you have more power to influence this than you might realise. Not just for your own career, but for the women coming up behind you.
Seek out CEO feeder roles
If you aspire to the top job, be strategic about your path. Roles with profit and loss responsibility, operational leadership and significant team management are the traditional routes. If your current role is mainly functional or advisory, think about which moves would give you the experience boards look for.
Sponsor other women
Sponsorship, having someone senior actively advocate for you, is critical for advancement. If you are in a position to sponsor emerging female talent, do it deliberately. Put names forward. Advocate for promotion. Create opportunities they would not otherwise have.
Influence succession planning
If you can see how your organisation identifies and develops future leaders, use that position to make sure women are considered for high potential programmes and stretch assignments. Challenge assumptions about who is ready for the next level.
Keep investing in your own development
Senior leadership requires ongoing learning. The skills that got you here are not necessarily the ones that take you further. Strategic thinking at the highest level, board dynamics and leading transformation all need deliberate development.
Developing strategic leadership capability
Learnmore’s Leading with Strategic Impact programme is designed for senior women who want to operate at the highest level. Over nine months you will develop the capabilities to shape organisational direction, influence at board level and lead transformational change. It is ILM assured, delivered remotely nationwide, with a dedicated coach for every learner.
- “Reflecting on the incredible experience in the Women in Leadership program. This isn't just about personal growth; it's a powerful demonstration of our company's commitment to gender equality and empowering women to lead. It's fostering a culture of growth and opportunity, where diverse perspectives are valued and women are empowered to reach their full potential, which benefits everyone.”
- Women in Leadership Learner
The programme includes dedicated sessions on strategic decision making, organisational culture and creating lasting change. 98% of our learners say they feel more confident in their role (Learnmore Learner Survey, 2024-25), and at senior level that confidence is what boards experience as readiness.
The bigger picture
Progress on gender equality in leadership is not inevitable. It requires sustained effort, intentional action, and women willing to push into spaces that have not traditionally welcomed them. The current generation of senior women has an opportunity, and perhaps a responsibility, to widen the path for those who follow.
The data shows we are not there yet. It also shows what is possible when organisations commit to change. If you are ready to develop your strategic leadership capability and help change the landscape, explore Leading with Strategic Impact.
ILM Assured: Women in Leadership – Leading with Strategic Impact
- Senior women leaders
- £1,950 + VAT
- 9 months
- ILM assured certificate
ILM Assured: Women in Leadership – Bridge to Boardroom
- Mid-management women leaders
- £1,650 + VAT
- 6 months
- ILM assured certificate
ILM Assured: Women in Leadership – The Management Launchpad
- Aspiring women leaders
- £1,250 + VAT
- 4 months
- ILM assured certificate