A key message from our 2014 study “The Credit Suisse Gender 3000: Women in Senior Management” was that gender diversity – or the greater representation of women – in senior roles was not just “nice to have” but linked to excess stock market returns and superior corporate profitability. As we re-run our dataset for 2016, we find that investors focusing on companies where gender diversity is an important strategy continue to be rewarded with excess returns running at a CAGR of 3.5%. Meanwhile, progress toward greater diversity in boardrooms is being achieved with a 16% increase in female representation since our last survey. However, the starting point is a low one and the pattern of improvement uneven. Substantial female representation is still a mark of differentiation rather than the norm.