Navigating the Challenges and Celebrating the Triumphs of Senior Management in the Era of Empowered Women in Corporate Boardrooms

Although women represent half of the world's population, their role in society has been

largely marginalized in various fields and professions, from academia to medicine. The lack of

women in business and economics, especially at the decision-making level, is particularly

poignant, as women have increasingly more influential purchasing power. Nowadays, women are

becoming recognized as the drivers of the world economy, making 80% of consumer purchasing

decisions in America1 and the UK,2 and are rapidly assuming a growing share of personal wealth

globally; for example, by 2020, half of new British millionaires are expected to be women.3 The

percentage of women has exceeded 50% at many colleges and universities worldwide, and

reaches nearly 50% in the workforce of developed countries.

The push for more women in decision-making positions has run parallel with the fight for

gender equality. Since the emergence of the Suffragette movement in the US and the "New

Woman" at the beginning of the twentieth century, women have been tearing away at the walls

that separate women and men in the workplace. Currently, with more men and women

advocating for an equal playing field, gender equality has become a vital component of domestic

and international policy and development. However, this movement so far has had limited

success. Because of persistent gender gaps, there has been a renewed vigor in the fight against

gender inequality. For example, the OECD and World Bank have recently constructed websites

that address gender equality and its importance to economic development. Additionally, in 2007,

the European Union established the European Institute for Gender Equality in Vilnius, Lithuania