You're assuming that the majority of people in those top leadership positions rise through middle management first... are you sure that's accurate? There are just as many gender problems in the Silicon Valley startup culture, if not more, than there are in large companies. Men are far more likely to get funding for startups than women.
But let's include the other minorities too. If it's primarily an issue of choice, why are there not more male immigrant CEO's? Arguments about taking time off to raise a family wouldn't apply to them.
It's true that there's a drop-off around the level of middle management for women. The articles I'm finding point to more reasons than the family issue. According to
this study which separates the responses of men and women, time for family is only #3 - in the responses of both genders. #1 and 2 are women being held to higher standards, and the bullshit response of companies "not being ready to" promote more women. There are issues with women being segregated (yes, partially by choice, it's not about pointing fingers) into departments like HR which are unlikely to promote from head of department to an executive position. People who get promoted to executive leadership have a broader range experience than that.
Yeah, the psychopath factor is a thing too. Represented in
some of these articles by "men not recognizing women's differing leadership style", which I think is coming at the same phenomenon from a different angle. But it's not actually backed up by profit results.
One analysis found a huge advantage to investing in Fortune 1000 companies with female CEOs: A potential return of 348 percent, nearly triple the gain of Standard & Poor's 500 companies.43 Another analysis found that during the downturn of 2007–09, U.S. corporations with women on their boards performed better, partly because of lower debt levels. Profit growth averaged 14 percent over six years, compared with 10 percent for companies with all-male boards, according to the Credit Suisse study.44 Companies with women in senior posts or on boards also have fewer governance-related scandals including bribery, corruption and fraud.