Panel on ‘Women on Boards’ sparks powerful dialogue on Inclusive Governance and Leadership
“Diversity is the key to running any corporation” – Prof. Padmini Srinivasan, Chairperson, CCGS, IIMB
October 9, 2025, Bangalore: The Indian Institute of Management Bangalore (IIMB), through its Centre for Corporate Governance & Sustainability (CCGS), hosted a virtual session on ‘Women on Boards: The Inclusive Case of Board Governance’, bringing together voices from business and finance to discuss the evolving landscape of gender diversity in boardrooms.
The panel discussion was moderated by Prof. Padmini Srinivasan, Chairperson of CCGS and Professor of Finance & Accounting at IIMB. The panel featured Dr. Villoo Morawala Patell, Founder, Chairman & Managing Director of Avesthagen Ltd.; Ms. Shruti Shibulal, Executive Vice Chairperson of Tamara Leisure Experiences Pvt Ltd; and Ms. Sunitha Viswanathan, Partner at Kae Capital.
Opening the session, Prof. Padmini reflected on how diversity has emerged as the cornerstone of good governance. “We acknowledge a powerful truth, that diversity is the key to running any corporation, particularly at the level of the board,” she said. Drawing from international examples, she highlighted how countries such as Norway, Spain, and France implemented gender quotas to accelerate representation, while India too has made notable progress, from 6% women on boards in 2013 to about 21% today. “Despite the progress, the question remains: what holds us back, what propels us forward, and how do we ensure inclusion becomes a norm rather than an exception?” she asked.
The discussion addressed the structural and cultural barriers that continue to shape women’s participation on boards. Dr. Villoo Morawala Patell, drawing from over two decades of entrepreneurship experience, spoke of the subtle yet persistent biases she encountered. Establishing credibility, she said, often required resilience and adaptability. “In the early years, I needed to work harder to be heard and respected,” she reflected, adding that effective participation in board deliberations required balancing assertiveness with collaboration while challenging stereotypes that surfaced, consciously or otherwise.
Ms. Sunitha Viswanathan pointed out that token representation on boards serves neither the company nor the individual. When a woman is appointed merely to satisfy compliance norms, it does little to advance genuine diversity or strengthen governance, she remarked, underlining the importance of cultivating gender-balanced boards as a strategic imperative rather than a checkbox exercise.
Echoing this sentiment, Ms. Shruti Shibulal urged a shift in perspective, from viewing inclusion as an act of equity to recognizing it as a driver of strategy and innovation. “Bringing women onto boards should not be an obligation but a deliberate choice that enriches decision-making,” she said.
As the conversation unfolded, the panelists explored the broader transformation underway in boardrooms across industries. They discussed how board composition is gradually shifting, with more companies recognizing the tangible benefits of diverse perspectives in driving long-term growth. Yet, questions persist: ‘Are women’s voices genuinely influencing boardroom decisions, and are organizations doing enough to attract and retain women leaders in the upper echelons of governance?’ The dialogue also examined how male board members can act as allies, championing inclusion and challenging entrenched norms. Looking ahead, the panelists envisioned a future where Indian boardrooms reflect a more balanced and inclusive composition in the next 10 years, one that mirrors both the diversity of society and the evolving needs of business.
The speakers also touched upon a nuanced yet significant challenge, the reluctance of many women leaders to self-promote or spotlight their achievements. They encouraged aspiring board members to embrace visibility as a form of empowerment, urging them to own their accomplishments and cultivate networks that amplify their professional presence.
The session drew participants from industry, academia, NGOs, and government organizations, signaling a growing consensus that inclusive governance is central to building ethical, effective, and future-ready corporations. Prof. Srinivasan concluded the panel discussion.
For full session recording, please see: https://youtu.be/FLhNAsfkBqo
Panel on ‘Women on Boards’ sparks powerful dialogue on Inclusive Governance and Leadership
“Diversity is the key to running any corporation” – Prof. Padmini Srinivasan, Chairperson, CCGS, IIMB
October 9, 2025, Bangalore: The Indian Institute of Management Bangalore (IIMB), through its Centre for Corporate Governance & Sustainability (CCGS), hosted a virtual session on ‘Women on Boards: The Inclusive Case of Board Governance’, bringing together voices from business and finance to discuss the evolving landscape of gender diversity in boardrooms.
The panel discussion was moderated by Prof. Padmini Srinivasan, Chairperson of CCGS and Professor of Finance & Accounting at IIMB. The panel featured Dr. Villoo Morawala Patell, Founder, Chairman & Managing Director of Avesthagen Ltd.; Ms. Shruti Shibulal, Executive Vice Chairperson of Tamara Leisure Experiences Pvt Ltd; and Ms. Sunitha Viswanathan, Partner at Kae Capital.
Opening the session, Prof. Padmini reflected on how diversity has emerged as the cornerstone of good governance. “We acknowledge a powerful truth, that diversity is the key to running any corporation, particularly at the level of the board,” she said. Drawing from international examples, she highlighted how countries such as Norway, Spain, and France implemented gender quotas to accelerate representation, while India too has made notable progress, from 6% women on boards in 2013 to about 21% today. “Despite the progress, the question remains: what holds us back, what propels us forward, and how do we ensure inclusion becomes a norm rather than an exception?” she asked.
The discussion addressed the structural and cultural barriers that continue to shape women’s participation on boards. Dr. Villoo Morawala Patell, drawing from over two decades of entrepreneurship experience, spoke of the subtle yet persistent biases she encountered. Establishing credibility, she said, often required resilience and adaptability. “In the early years, I needed to work harder to be heard and respected,” she reflected, adding that effective participation in board deliberations required balancing assertiveness with collaboration while challenging stereotypes that surfaced, consciously or otherwise.
Ms. Sunitha Viswanathan pointed out that token representation on boards serves neither the company nor the individual. When a woman is appointed merely to satisfy compliance norms, it does little to advance genuine diversity or strengthen governance, she remarked, underlining the importance of cultivating gender-balanced boards as a strategic imperative rather than a checkbox exercise.
Echoing this sentiment, Ms. Shruti Shibulal urged a shift in perspective, from viewing inclusion as an act of equity to recognizing it as a driver of strategy and innovation. “Bringing women onto boards should not be an obligation but a deliberate choice that enriches decision-making,” she said.
As the conversation unfolded, the panelists explored the broader transformation underway in boardrooms across industries. They discussed how board composition is gradually shifting, with more companies recognizing the tangible benefits of diverse perspectives in driving long-term growth. Yet, questions persist: ‘Are women’s voices genuinely influencing boardroom decisions, and are organizations doing enough to attract and retain women leaders in the upper echelons of governance?’ The dialogue also examined how male board members can act as allies, championing inclusion and challenging entrenched norms. Looking ahead, the panelists envisioned a future where Indian boardrooms reflect a more balanced and inclusive composition in the next 10 years, one that mirrors both the diversity of society and the evolving needs of business.
The speakers also touched upon a nuanced yet significant challenge, the reluctance of many women leaders to self-promote or spotlight their achievements. They encouraged aspiring board members to embrace visibility as a form of empowerment, urging them to own their accomplishments and cultivate networks that amplify their professional presence.
The session drew participants from industry, academia, NGOs, and government organizations, signaling a growing consensus that inclusive governance is central to building ethical, effective, and future-ready corporations. Prof. Srinivasan concluded the panel discussion.
For full session recording, please see: https://youtu.be/FLhNAsfkBqo