According to the literature, see e.g. Carter et al. (2003), Singh and Vinnicombe (2004) and Smith et al (2006) there are several positive arguments advocating for diversity in management as seen from a ‘business case perspective’. The key argument in favour of management diversity is that a more diverse board of directors or managers is capable of making decisions based on different opinions from different people that have different experience, i.e. different working and non working experience of men and women may improve the decision making process. Furthermore more women in management most likely affects the career aspirations of younger women in lower positions positively and as a consequence the pool of potential candidates for top positions within the firm is increased, which in the longer run may affect firm performance positively.1 1