Our thanks to Mike for this. From the article, a reference to correlation, leaving the reader to erroneously imply causation, although it’s been known for years that the only causal link between higher female representation on corporate boards and financial performance is a negative one:
Lord Davies rejected suggestions that companies were ‘padding’ boards with female non-executives for public relations purposes, insisting the women appointees were qualified for their posts.
‘It’s about business results,’ he said. ‘The more diverse the group is at the top of the company, the better the results.’
Campaign for Merit in Business 