Women in business: The high-fliers

Hollywood actress Zsa-Zsa Gabor once said that the quickest way for a woman to make a million was to marry it. But this couldn't be further from the truth for the boardroom babes of the new millennium.

The number of female directorships in the FTSE 100 topped 100 for the first time in 2004. The number of female-held directorships has increased to 110, up from 101 in 2003. These 110 seats are held by 96 women as some hold several FTSE 100 directorships.

Sixty-nine of the UK's top one hundred companies now have women directors, although this figure has increased by just one over last year. But the percentage of new director appointments going to women in 2004 saw its biggest jump over the last four years to a remarkable 17%. The figures, from Cranfield School of Management's Centre for Developing Women Business Leaders, indicate growing numbers of women are running Britain's top businesses. But who are they?

Head girls

As head of investment business 3i, Baroness Sarah Hogg is the FTSE 100's only chairwoman. Married to former Conservative cabinet minister Douglas Hogg, the Oxford-educated Baroness, 57, is an economist with extensive experience of business, government and the media. She was created a Life Peer in the 1995 New Year's Honours List and has two grown-up children. 'The more I look back on my working life,' says Baroness Hogg, 'the more convinced I am of my dependence on good fortune. If you are working and bringing up a family, having luck, in terms of one's childrens' health and the general ability to run one's life on a continuing basis, without having to drop everything and concentrate exclusively on them - and I was well aware at all points that something could easily happen that would mean I would have to do that - was just very fortunate.'

Dame Marjorie Scardino became the first - and currently only - female chief executive of a FTSE 100 company when she took over running the Pearson media group in 1997. Originally from Texas, Dame Marjorie is now a British citizen, after settling here with her family. She was made an honorary Dame two years ago, and is said to have a personal fortune worth £10million. She is married with three children in their 20s. She has endured typical male criticism in her role as a top executive, and survived. Her advice for newcomers to business is 'Always be yourself . . . be generous . . . don't go it alone . . . don't be afraid to fail.'

Top of the class

In July 2003, high street giant WH Smith PLC announced the appointment of Kate Swann as Group Chief Executive, making her one of only a handful of women running FTSE listed companies. She is at the helm of a FTSE 250 company valued at more than 900million and with an annual turnover of £3 billion.

Already no stranger to the executive washroom, Swann was previously managing director of Argos and started her career as a marketing executive at Tesco. Her CV reads likes a who's who of top retail brands. She spent four years working for Homepride Foods before joining Coca Cola Schweppes Beverages in 1992, where she went on to become the General Marketing Manager. In 1993 she joined Dixons Stores Group, initially as the Group Marketing Controller, and she quickly progressed to Marketing Director of Currys. After four years, she took up the role of Marketing Director of Homebase and within 18 months became the Managing Director.

Swann is 38 and is married with two children. She met her husband when she was a schoolgirl working as a waitress while on holiday. After their marriage her career took off and she earned a six-figure salary as head of Sainsbury's DIY chain, while he was the fruit and vegetable manager at the couple's local branch of the supermarket. He now stays at home to look after their two young children. 'He's the perfect barometer when I come up with crazy ideas,' says Swann. 'He explains there is sometimes a difference between things dreamed up by head office and ideas that actually have to be implemented on the shop floor. It can be quite sobering.' No wonder Swann's approach to leadership includes gong back to the shop floor; she spent 19 days in stores during December 2004. She reportedly earned £1.29m in her first year in the job, including a £500,000 sign-on fee and £220,000 bonus.

But her day job is a tough one. Some would say Swann has been handed a poisoned chalice. She has said it will take at least three years for her plans to overcome the challenges faced by the company and make the shareholders happy. At the end of 2004 the Sun newspaper said she deserved a 'Don't Fancy Yours Much award for the executive with the toughest job'.

New girls

Cranfield's listings show that companies with the Highest Percentage of Women on the Board include Centrica, with three women directors, and J. Sainsbury with two. In both companies women comprise a third of the non-executive directors. (Centrica has moved up from 10th place last year). AstraZeneca comes third with four female directors making up 31% of its board. In joint fourth place are British Airways and Pearson with three women each making up a quarter of their boards.

Tesco is also likely to appear higher on next year's list after appointing Karen Cook and Carolyn McCall to its board at the end of 2004. Karen Cook, 51, is a Managing Director at investment bank Goldman Sachs and a former co-head of corporate finance at Schroders. In 1997 she became the first female non-executive director of Dixons and sat on the board for six years. What's even more interesting is that she is married with no fewer than six children.

Tesco has also snapped up another high-flyer, Carolyn McCall, to replace outgoing board member Veronique Morali. 43 year old McCall has been Chief Executive of Guardian Newspapers Ltd since July 2000 having joined the company in 1986. She has held a number of different roles within the company including Advertising Director, Commercial Director and Deputy Managing Director. McCall was previously a non-executive director of clothing retailer New Look plc and is married with three young children.

These women have not been drawn to the top of one of Britain's biggest supermarkets because they are experts on shopping. Rest assured that Tesco want to benefit from the investment savvy and marketing expertise they bring to the table.

Popular pair

There are plenty of women running successful businesses which are not listed on the stock exchange. Sadie Frost and Jemima French are two of them. Friends since they were fifteen, the pair run clothing design label FrostFrench which was started with a £10,000 loan but now has an annual turnover of £1million. And it's not just running an ever-expanding business which keeps them busy. Each has been through two divorces and has four children and so their partnership has been made stronger through mutual support and a very real understanding of how to be successful when juggling home and work.