Employers association boss Alasdair Thompson remains in his job for now, after an emergency board meeting yesterday failed to resolve his fate.
Mr Thompson said women's "monthly sick problems" affected their productivity at work.
Following yesterday's meeting, board chairman Graham Mountfort told the Herald Mr Thompson's comments were "way off the wall".
"There is a certain amount of anger. A lot of women have taken offence and I can understand why."
Mr Thompson is on leave and neither he nor his lawyers attended the meeting.
The EMA "took some advice [from lawyers] during the meeting", Mr Mountfort said. The association had to follow a sound and thorough process, he added.
Employment lawyer Karen Radich, a partner at Minter Ellison Rudd Watts, said Mr Thompson could be negotiating for a departure settlement.
"It will be difficult for him to pick up something else straightaway. He will undoubtedly be very concerned about preserving his financial position for as long as possible."
The grounds for termination would be whether Mr Thompson could credibly remain in his role given public opinion, "and whether his comments were such that they comprised serious misconduct", she said.
Mr Mountfort refused to put a time limit on any decision.
Mr Thompson's comments were high on the agenda of a meeting of about 120 female chief executives, directors and business leaders at the Global Women Forum 2011 in Auckland yesterday.
Founding member of New Zealand Global Women, Dame Jenny Shipley, said it was not up to her whether Mr Thompson kept his job.
But she said it made her "angry and frustrated" to have to address such comments.
"We are a small economy and proud of our firsts in the world. We should not be making news globally on stupid questions that were dismissed 25 years ago," Shipley said.
* Last night, The Alasdair Thompson Women's Monthly Day Off - a Facebook event calling for women to take a day off - had 9000 members.
- Additional reporting: Susie Nordqvist and Claire Trevett
Widespread anger at remarks but Thompson keeps his job - for now
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