
Shortly after David Cameron became Prime Minister in May 2010, leading a Conservative Party-led coalition, he appointed a Labour Party peer, Lord Davies of Abersoch, to report on how (not whether) to increase the proportion of women on major corporate boards. There was a great deal of talk at that time of the notion that companies could improve their financial performance by appointing more women onto their boards – the much-vaunted “business case” for doing so. The notion was, of course, always a fantasy. To sustain the fantasy, correlations (between female representation on boards, and enhanced financial performance) were misrepresented as causation, something which continues to this day.