Diversity of gender brings a diversity of thought. Getting more women involved reduces groupthink, unlocks fresh perspectives and fosters innovation and organizational creativity -- ultimately emulating a diverse customer base.
Trust and transparency among the board members and with the CEO are essential for a positive outcome. In study after study on a global basis, boards with three or more women on the board have significantly better performance.
Old habits die hard. For decades board members were chosen among the friends and colleagues of the CEO and others on the board. Since boards were comprised almost exclusively by men and in particular by other CEOs it is not surprising to find so few women.