A Warwickshire company has been named among the top ten most improved FTSE 100 companies for the representation of woman on their boards.
Wolseley, which has its UK head office in Royal Leamington Spa, was ranked at number four after it was revealed that females made up more than 27 per cent of the plumbing and heating product distributor's board in 2014, compared to zero in 2010.
"Seeing the enormous progress made by these ten top FTSE 100 companies demonstrates that the UK’s voluntary, business-led approach is working," said business secretary Vince Cable.
"Our target of 25 per cent women on boards by 2015 is in sight. However, the threat of EU mandatory targets remains a reality if we do not meet it.
"Businesses must not take their foot off the pedal during the final stretch - if we are to avoid action from Brussels we must continue to demonstrate that our voluntary approach is the right one and is working."
International investment group Old Mutual topped the league table after increasing its female board members by 38.5 per cent. Aggreko and Glaxosmithkline were second and third respectively, while Land Securities Group was fifth.
Patrick O’Sullivan, chairman of Old Mutual, added: "Old Mutual aims to recruit and retain staff, at all levels, from as wide a background as possible.
"Our guiding principle is that successful candidates should be the best qualified for that role and for our business to succeed, our culture has to be one of inclusion and opportunity for all our staff."
Associated British Foods, which owns Primark, was ranked joint sixth place alongside Capita, Petrofac and Weir Group, with women making up 22.2 per cent of their boards.
HSBC came tenth after boosting female representation from 16.7 per cent in 2010 to 37.5 per cent in 2014.