There’s been widespread condemnation of the now closed down Presidents Club fundraiser, seen as wholly inappropriate in this day and age.

Attending such an event flies in the face of what society expects from business leaders- especially when increasing numbers of women are seeking to become finance directors or aspire to take up other senior roles.

It is also out of step with good corporate thinking. Its widely understood that companies with boards that think and act in a diverse way- most likely to come from having a diverse make-up- will gain multiple benefits.

Firstly, a diverse company will understand its customer base in domestic and global markets better. It will also be more attractive to a wider pool of talent. Perhaps most importantly of all, it won’t be constrained by group think in reacting to the continual challenges thrown up by an increasingly volatile and uncertain environment that companies now exist in.

That all adds up to companies operating with a diverse lens becoming more sustainable and able to prosper in the new paradigm- where disruption is the new normal.

In this respect, events like the Presidents Club dinner must be consigned to history.

The mind set of those attending these events is the same dinosaur approach that would allow our companies to perish in an unforgiving global environment if unchecked. Leaders of this ilk must be called out by male and female peers alike.