US fragrance and cosmetics company Coty is said to be planning to appoint a woman to its Board of Directors by July, according to a report published by The Street.

If it goes ahead, the move will reduce the number of S&P 500 companies without women in the boardroom to four. Coty is currently one of just five S&P 500 companies with an all-male board, and the only fragrance and cosmetics company where women are not represented at board level.

A spokesperson for the company who declined to be named told The Street in an email statement that a board composed of directors who have ‘diverse personal background and experiences’ is a ‘priority for the company’.