PIR International's 2023 EU/UK biotech board remuneration and diversity study

13 Sep 23
Member news

We are delighted to announce the launch of PIR International’s 2023 EU/UK Biotech Board Remuneration and Diversity Study.

Last year we embarked on producing one of the first dedicated studies which was independent and sourced directly from biotech board members and c-suite executives across the EU and UK. In this year’s exercise we are splitting our focus in to separate board and c-suite studies to engage each cohort independently, allowing us to dive deeper and give our audience greater insights on board trends, behaviours and makeup whilst capturing important data on remuneration and diversity in parallel.

This year’s board study was greeted by a strong response, giving us the ability to create an insightful report thanks to participation from board profiles and industry commentators across the European and UK biotechnology sector. To access the report, register on our website (www.pir-intl.com). We hope you find the report insightful and compelling.

Steve Bates OBE, CEO of BIA, said: “The UK Bioindustry Association welcomes the continued focus on diversity, equity and inclusion across the innovative life sciences and biotech sector in the UK, as evidenced by this report. It's encouraging that the PIR International’s EU & UK Board Remuneration and Diversity findings indicate that the industry is moving, albeit slowly, in the right direction. As our own BIA's Diversity and Inclusion in UK Biotech report shows recognising the gaps is crucial because it helps our sector remain committed to addressing them and making meaningful change.

BIA is taking concrete steps to support member companies in advancing diversity and inclusion in their own organisations with initiatives like BIA’s Women in Biotech programme and a series of Diversity, Equity, and Inclusion (DEI) workshops.

For the UK and European life sciences and biotech sector to thrive, we need to attract and nurture talented innovators from diverse backgrounds. This will take a sustained collaborative effort. By ensuring that diversity and inclusion remain priorities in the biotech and life sciences sector, the industry can continue to flourish and contribute positively to society and the global economy.”

On diversity, data shows that out of 183 boards that took part in the EU & UK Board Remuneration and Diversity report, 25% have female board members, which is slightly more than last year. Similarly, BIA’s survey of 30 biotech companies with over 1,200 employees, shows that at the executive or founder level women account for 31.5% of C-suite roles and 26% of CEOs.

68% of those Board members studied believe that there is a distinct imbalance in ethnic representation on Biotech boards in the EU/UK. Only 4% have board members with a racial and ethnic minority background. According to data from the BIA’s Diversity and Inclusion report, 19.6 of respondents identified as members of racial or ethnic minorities and less than 15% of those are C-suite. For chief executives, the figure is 11 per cent; none are women from Black or minority ethnic backgrounds.