The number of female directors of FTSE 100 companies has passed 100 for the first time, although the number of women in executive positions remains low, according to a report.

The annual Female FTSE Index, produced by Cranfield School of Management, shows that the total number of female directors has jumped 20% in the past year, although most progress has been made by those companies that already had women board members. AstraZeneca, the pharmaceuticals group, and Marks & Spencer, the retail chain, each have four female directors, while seven other companies employ three, and 13 have two.