Woman, HR Head, Asian, Leena Nair, CEO

Leena Nair, the Indian-born British executive, will become the first Asian to head the French fashion company Chanel, which has, hitherto, looked internally for leadership. It is a step forward in the effort to make business more inclusive, diverse and equitable. Nair's appointment is a moment to celebrate, not just for Indians eager to bask in the glory of achievements by Indians, native ones or of hyphenated nationality, but also for all those who have worked tirelessly over the years to make the upper echelons of business more diverse and inclusive. It also recognises the importance of talent management in the success of modern businesses.

Chanel would have been mindful of the eagerness of footloose funds to invest in companies that satisfy environmental, social and corporate governance (ESG) norms, of which gender and ethnic diversity counts for a lot. Of course, without basic competence, ESG factors cannot push anyone to the top. Chanel's choice of Leena Nair also tips an elegant hat to the growing importance of markets like India - Emerging Asia beyond China. For India, the fact that yet another established global company will be led by an Indian-origin person should be a moment of reflection as to why professional managers, capable as they undoubtedly are, still run too few Indian companies.

The Nairs and Nooyis are far too rare in business. It is not because the pool of qualified women is small but rather that women fall behind in the corporate race. Ironically, they sometimes fall behind because of inclusive, gender-sensitive policies that, while making room for women to attend to home and family, disadvantage them at work. Nair's rise to the top should spur greater efforts to correct any gender tilt to the playing field.