FTSE 100 companies are firmly on track to hit the government’s target of 25% female representation in the boardroom by 2015, but the latest report tracking their progress has identified some potentially significant policy failings in the UK’s top firms.

The progress report published Wednesday from the Cranfield School of Management projects that the government's target of 25% female FTSE 100 board representation by 2015 is just 24 new appointments away.