South West Water’s parent company Pennon has emerged as the top performer in the utility sector for gender balance at senior levels according to the FTSE Women Leaders Review.
Women account for 55.6% of the company’s board make up, and Pennon has women in 47.2% of combined executive committee and direct reports roles across the organisation.
The sector average for combined executive committee and direct reports stands at 38.5%, behind the national average of 40.2%. Water and energy companies were comfortably ahead of the 2020 target set by the government-backed FTSE Women Leaders Review to have women in 30% of senior roles by 2020, which was met by all the utilities companies tracked in the review.
For 2025, the ambition is set at 40%, which Pennon, United Utilities and Severn Trent have already achieved.
The Review tracks FTSE350 companies as well as 50 of the largest private companies in the UK, which placed Anglian and Thames on the list. Each exceeded the 30% target, Anglian at 44.3% and Thames at 35.6%.
For 2023, it showed National Grid has women in 41.7% of board positions as well as 39.8% of its combined executive committee and direct reports. Drax’s board comprises 44.4% female employees with four women sitting on a board of nine, however it has no women as executive board members. SSE meanwhile has 46.2% female representation on its board and 33.8% of its combined executive and direct reports are women.
“We are incredibly proud to have so much diversity within our business and we know from experience that balanced teams are better at solving complex problems, delivering innovative solutions, spotting new opportunities, as well as being powerful drivers of resilience,” Adele Barker, chief people officer at Pennon, said.
“We are one of the few FTSE 250 with both a female CEO and Chair. We hope that by promoting gender equality and diversity in our sector will inspire women to pursue leadership roles and consider a career in our fascinating industry.”
The review is an independent report, supported by the government, designed to assist large companies to improve the representation of women on boards and in leadership positions.
Together with Severn Trent, Pennon is one four companies in the FTSE350 with a female chief executive and chair. Severn Trent became the first FTSE company to have an all-female top team after appointing Helen Miles as chief financial officer last month.