I just went back and looked for this--it was proposed a couple of months ago, but got dropped in all the excitement of the last few weeks. I don't think I have to tell anyone on this list how difficult it is for women's voices to be heard, and how having some kind of representation on an elected council could make a difference.

Here is the initial post that caught my eye-- there is some discussion before and after:
https://lists.wikimedia.org/pipermail/wikimedia-l/2016-January/081042.html

and here is the discussion--now dropped--on meta:
https://meta.wikimedia.org/wiki/Wikimedia_Community_Council_Compact

I don't think anyone could make a case that the community was consulted enough in the major decisions of the last two years, or that the path of the Wikimedia movement would not have been smoother if it had. There will soon be more critical decisions to come, as the Foundation searches for new leadership. Perhaps it is time to revive this discussion.