Carolyn Kay, a non executive director of the Commonwealth Bank, says gender diversity should be viewed as a management essential.
"It's important for women to be in decision-making levels to help reshape the culture of organisations," Ms Kay said at the Women in Leadership forum in Sydney on Monday.
Ms Kay said numerous studies have shown that companies with three or more women in senior management roles outperformed those without any women at the top.
"There are many studies – by Harvard, Catalyst (and) McKinsey to name a few – that show strong correlation between … organisations with women at the top and the relative success of those organisations," she said.
Ms Kay said it was important for Australia's future economic health that women were employed in executive positions.
"This is important for many reasons, including increasing the tax base, supporting the ageing population and lifting the household savings rate," she said. Read More…