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13 April, 2026

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A new path for female CEOs

by Jenni Hibbert

Forget the career ladder: the route to leadership is the path that maximises experience and development of the skills needed in the top job.

route to the top

Image: Dapitart/Shutterstock.com

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While we have seen progress in female representation in the C-suite, at board level and in the non-executive director space, the number of women in the CEO role in UK companies is, at best, experiencing inertia. Heidrick & Struggles’ 2025 Route to the Top report, published in April of this year, reveals a flatline in progress: in 2025, 9% of CEOs in the UK are women, barely moving from 8% in 2024 and 10% in 2023. To boost these numbers, action is undeniably needed, but what can be done—and by whom?

Is it the responsibility of organisations looking to benefit from diverse leadership, the individuals who want to prove themselves in the top job? Or the succession planners tasked with identifying and shaping future CEO candidates?

There are the significant experiential barriers preventing many women from becoming CEOs

In the first instance, anyone looking to drive this change must recognise the significant experiential barriers preventing many women from becoming CEOs. The nature of the job is evolving; previously, a long-term appointment that step-up candidates could grow into. Now, the global average tenure of a listed company CEO is below five years. Coupled with the demands of the role, this high turnover means boards favour individuals with a bank of relevant experience, from managing a commercial P&L to investor relations and sector-specific expertise.

Today’s volatile business environment is making boards cautious and even conservative in their thinking, and the brilliant step-up candidate who needs to learn on the job will lose out to the tried and tested candidate—who, statistically, is likely to be a man. With far fewer women already in CEO roles, there are fewer opportunities for them to gain the relevant experience, and progress remains stalled. To accelerate it, we need to reroute the talent pipeline and rethink succession planning.

Succession for tomorrow, today

The brilliant step-up candidate who needs to learn on the job will lose out to the tried and tested candidate—who, statistically, is likely to be a man.

When it comes to CEO succession, best practice for any company is to begin considering who will come next on the same day a new CEO is appointed. It doesn’t always happen, but that individual should have a conversation with their chair on succession planning. The longer the board has, the wider the talent pool will be—especially when it includes enabling internal prospects to gain appropriate experience, long before they become part of an active selection process. Unfortunately, a majority of UK board members—57%—lack confidence in the process.

While this may look like an opportunity to nominate female candidates and generate a diverse pipeline, I believe companies should be wary of this as a self-defeating exercise. The only women put forward should be those with a fighting chance of getting the job. Otherwise, it is self-defeating, even disingenuous, and does female talent a disservice—and could dissuade other women from stepping forward for fear of being viewed as a ‘token female’ candidate. These processes are highly visible, and the succession committee will be judged on how internal candidates are presented and promoted.

Career hopscotch

Instead, aspiring CEOs should recognise that a career path is no longer a ladder—it’s a hopscotch board, with squares representing a broad palette of experience. Progress can manifest itself in unexpected ways, and one must be prepared to move not only forwards but also sideways or diagonally to reach their goal. It is about being objective over the benefits of a lateral move if, for example, it gives you P&L expertise, cross-sector experience, exposes you to a digital transformation project, or offers greater customer centricity or geographic breadth.

The only women put forward should be those with a fighting chance of getting the job.

It is equally important to hone your human skills. Having a learning mindset is key, maintaining curiosity and expanding your intellectual capacity; as is the ability to work with and through others, build good teams and empower individuals. These are critical capabilities for any CEO, as is the resilience not to be put off by early rejections for the top job. During your first participation in the CEO succession process, you will be the step-up candidate, and the odds will be against you; but these setbacks will be integral to making you a stronger leader.

The nature of the workforce is changing, and eventually, the dial will move on the number of women CEOs in the UK. The profile of incoming and outgoing talent, and therefore who is chairing boards and selecting the next generation of CEOs, is diversifying. Even so, boards will choose the most suitable candidate for the role, irrespective of gender—and it is the responsibility of organisations, individuals and succession committees to ensure there is a pipeline of qualified, experienced candidates, including women, to choose from.

Jenni Hibbert is global managing partner, Go-To-Market and regional leader, Europe & Africa with executive search firm Heidrick & Struggles

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