Corporate Britain has reached a milestone in boardroom diversity, with minority representation at record highs across FTSE companies. But the latest Parker Review warns progress remains uneven, with Black leaders still significantly underrepresented despite broader gains.
Minority representation on FTSE boards has reached a record high, with 98 of the UK’s largest companies now appointing at least one minority ethnic director, according to the latest Parker Review. The review, published yesterday (10 March 2026), found that ethnic minorities now hold 20% of FTSE 100 board positions and 16% of FTSE 250 roles, both record levels.
There are also 14 ethnic minority chief executives leading FTSE 100 companies, another milestone for corporate leadership diversity. However, the report highlighted a “disappointing” decline in Black representation at both board and senior management levels in 2025, signalling that gains in overall diversity have not been shared equally across all communities.
Within the FTSE 100, Black directors hold 2.3% of board positions, compared with 3.9% of the UK population aged 30–69. Representation in senior management also declined slightly to 1.3%, down from 1.5% in 2024.
DIVERSITY PROGRESS IN UK BOARDROOMS
The milestone marks a significant shift from a decade ago when fewer than half of FTSE 100 companies had a minority ethnic director on their board. Earlier warnings suggested many firms risked missing diversity targets when the Parker Review first began assessing representation across corporate leadership.
David Tyler, Chair of the Parker Review committee, said the latest results demonstrated the progress made by corporate Britain since the review began in 2015. “I am pleased to say that 98 of the FTSE 100 companies had at least one ethnic minority director in December 2025 – a record high. We have moved a long way from just 47 FTSE 100 companies being in this position when we started our work in 2015.”
Tyler added that companies increasingly recognise the need to reflect the diversity of the UK workforce. “The ethnic diversity of the UK workforce has increased significantly over the last 25 years and will continue to do so over the next quarter century. Companies realise that they need to respond to this by recruiting and retaining talented people in the minority ethnic communities to ensure that they remain competitive.”
PROGRESS ACROSS FTSE 250 COMPANIES
Diversity has also improved among mid-cap firms. In the FTSE 250, the report found that 205 companies now have at least one minority ethnic director, representing 82% of the index. Ethnic minorities hold 16% of FTSE 250 board positions, up from 15% in 2024.
The Parker Review also tracks diversity within senior management roles, recognising their importance in building the pipeline for future board appointments. Across UK-based senior leadership teams:
- Ethnic minorities represent 11% of FTSE 100 senior management roles
- 10% across the FTSE 250 and large private companies
Recent analysis suggests representation in leadership positions is gradually improving, although progress varies between communities, as reported.
GENDER GAP IN EXECUTIVE LEADERSHIP
The report also highlights ongoing challenges for women from minority ethnic backgrounds in reaching the most senior corporate roles. Women now make up 49% of ethnic minority directors across both the FTSE 100 and FTSE 250, indicating balanced representation at board level.
However, this progress has not yet translated into executive leadership. None of the 14 FTSE 100 ethnic minority chief executives are women. Recent research has shown that although women now hold around 43% of FTSE 350 board positions, the most senior leadership roles remain largely male dominated.
GOVERNMENT & BUSINESS RESPONSE
The UK’s Business Secretary Peter Kyle welcomed the progress highlighted in the report but said companies must continue to push for further change. “Improving and opening up opportunities at the top of business means the brightest talent can rise, innovate and grow our economy. I welcome the progress shown in this report, but progress is not the finish line.”
Anna Anthony, EY UK & Ireland Regional Managing Partner, said sustained commitment from organisations had been key to driving change. “The results and progress seen in this year’s Parker Review reflect what is possible when organisations commit to long-term, deliberate action and create inclusive environments. Embedding diversity within leadership isn’t just the right thing to do – it is essential to building cultures where people feel they belong, are valued and can perform at their best.”
CALLS FOR DEEPER STRUCTURAL CHANGE
Despite the progress highlighted in the report, campaigners say corporate Britain still has significant work to do to improve representation in leadership roles. David Isaac, Chair of the Equality and Human Rights Commission, warned that many boardrooms remain dominated by established networks: “There is still an inexcusable lack of diversity in the boardrooms of big businesses. They are still white and male and ‘who you know, not what you know’ is the prevailing culture.”
He said companies must do more to develop the pipeline of diverse leadership talent. “For businesses to be successful they should harness the talent of all parts of society, including different races and gender. Taking immediate steps to develop the talent pipeline is something that all companies can do.”
Isaac added that the Parker Review findings reinforced broader concerns about the pace of change across corporate Britain, sharing that the “report reinforces our own inquiry findings that far too few companies are improving the diversity of their boards,” adding that he hopes “business will act without delay to implement these important recommendations.”
GUIDE FOR EMPLOYERS: HOW TO ACCELERATE BOARDOOM DIVERSITY
The Parker Review findings suggest many organisations must continue strengthening leadership pipelines if diversity gains are to be sustained. Experts say employers can take several practical steps, which include:
1. Set measurable diversity targets
Clear targets and transparent reporting have been key drivers of progress in recent years. Earlier Parker Review analysis showed most FTSE 100 firms eventually met the original “one by 2021” minority director target once reporting became more transparent.
2. Strengthen leadership pipelines
Improving representation at board level depends heavily on developing diverse leadership talent earlier in careers. Mentoring programmes, sponsorship initiatives and leadership development schemes can help ensure talented employees from underrepresented backgrounds progress into senior roles, as reported.
3. Expand board recruitment networks
Corporate boards have traditionally recruited through narrow professional networks. Companies can widen the candidate pool by working with executive search firms committed to diverse shortlists and by considering first-time board candidates with strong executive experience.
4. Address intersectional leadership gaps
The Parker Review also highlights the importance of addressing inequalities affecting women from minority ethnic backgrounds. Companies should track diversity data across both ethnicity and gender when planning leadership succession.
WHY THIS MATTERS
The Parker Review was launched in 2015 to address the lack of ethnic diversity across UK corporate boardrooms. At the time, fewer than half of FTSE 100 companies had a minority ethnic director.
A decade later, representation has improved significantly, but the latest report suggests companies must accelerate efforts if they are to meet new diversity targets by 2027.
The economic stakes are also significant. Ethnic minority businesses contribute up to £74bn annually to the UK economy, highlighting the scale of talent and entrepreneurship across diverse communities.
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