Gender-balanced boards perform better. Shareholders like them. Consumers reward them. They are better governed and less susceptible to fraud.
I am not arguing that one gender makes better decisions than the other, but rather that boards are more likely to make bad choices when members grow too comfortable with each other and when they lack the benefit of different perspectives. Homogenous boards become “clubbish,” and then the tendency feeds on itself as such boards over-emphasize the importance of “personality fit” when looking for new members. This would happen as readily with all-female boards as with all-male boards.