The Government backed Davies Review in 2011 followed by the Hampton-Alexander Review in 2016, successfully encouraged a voluntary effort to substantially increase the number of women on the boards of the FTSE 350 listed companies and this effort has cascaded down through AIM listed and the largest privately held companies. In 2012, only 12% of the FTSE 350 non-executive directors were women. Today, it is close to 40% and still increasing. While this success needs to recognised, it also masks a deeper problem. If companies can’t get on top of gender diversity, will they be able to succeed with other forms of diversity?