Nearly 50 FTSE 250 Companies Lack Ethnic Minority Directors

Nearly one in five FTSE 250 companies still do not have a single board member from an ethnic minority background, according to the latest findings from the government-backed Parker Review. The 2024 update revealed that 46 firms in the mid-cap index failed to meet the voluntary target of appointing at least one ethnic minority director by the end of last year.

In contrast, the FTSE 100 has shown more encouraging progress. As of the most recent review, only five of the UK’s top 100 listed companies had yet to appoint a director from an ethnic minority background—highlighting a widening gap in progress between larger firms and their mid-sized counterparts.

Launched in 2017, the Parker Review was designed to improve the representation of ethnic minorities in the upper tiers of UK business. It recommended that all FTSE 100 companies appoint at least one ethnic minority board member by the end of 2021, with FTSE 250 firms set a similar target for the end of 2024. While the targets are voluntary and not legally binding, they have been widely supported by government, investors, and senior business leaders.

Despite clear expectations and years of awareness, the pace of change has slowed. Analysts point to a lack of sustained focus among some companies, particularly where diversity and inclusion efforts are not backed by long-term leadership commitment or robust succession planning. There are growing calls for organisations to treat boardroom diversity not as a box-ticking exercise but as part of a wider cultural shift.

The Parker Review continues to urge companies to move beyond headline targets and embed inclusive practices across the organisation. Recommendations include building diverse talent pipelines, publishing ethnicity pay gap data, improving transparency in recruitment processes, and ensuring ethnic minority leaders are supported in meaningful leadership roles—not just symbolic appointments.

As the 2024 target date passes, attention is turning toward accountability. Companies that have not met the expected level of board representation are now under pressure to explain their position and share concrete plans for addressing the gap in 2025 and beyond.

If the UK is to reassert itself as a serious global player in business and innovation, it must ensure its leadership teams reflect the diversity of the markets it serves. Understanding customers, clients, and communities—both at home and internationally—requires leadership that can speak to a range of lived experiences. Boardroom diversity is not just a social priority; it is a strategic one.