FTSE 100 firms have reached the target to get a quarter of women into their boardrooms.
The government has announced that the total percentage of women holding director, executive and committee roles has reached 25.4% and all-male boards have been wiped out across the FTSE 100.
The initial target was set back in 2011 by the then-business secretary, Vince Cable after a report by Lord Mervyn Davies.
The Cranfield School of Management has also released its annual report stating that 41 firms in the FTSE 100 and 65 members in the FTSE 250 have now met the 25% target.
Notable new appointments in the high-profile boardrooms include directors Irene Lee and Pauline van der Meer Mohr for HSBC, Mary Schapiro at the London Stock Exchange and Diane Schueneman for Barclays Bank. Companies such as Easyjet, Royal Mail, Imperial Tobacco and Severn Trent all have female chief executives.
While this is a great achievement, many argue that it is just the start of the longer journey to equality. Within the FTSE 250, 23 all-male boards remain and females make up just 18% of the total board members.
Dr Elena Doldor, co-author of the Cranfield report said that, “there are still not enough women on executive committees or in the executive pipeline. Introducing aspirational and measurable targets for women at all levels is the only way to achieve real progress.”