The variety of boards still requires effort

For women, however, the results are encouraging, to say the least. By mid-2022, women accounted for 26% of the board seats of TSX-listed companies, up 2.6 percentage points year over year.

At large Canadian companies, women now hold 32.9% of all board seats in the S&P/TSX Composite Index, and at S&P/TSX 60 companies, women hold 36% of all board seats.

For all companies listed on the Toronto Stock Exchange, only 11.6% of the boards are non-women, according to the report, up from 47.1% in 2015 and 16% in 2021.

Women are also more strongly represented in managerial positions. One in five senior executives (19.8%) is a woman, compared to 18.2% in 2021.

While gender diversity is becoming increasingly common, this is not yet the case for visible minorities, who are still largely absent from boards. In all CBCA companies, nearly 10% of board positions are held by directors who are visible minorities, indigenous peoples or people with disabilities

“To make progress on diversity beyond gender, boards of public companies need to change their approach to identifying and appointing directors from these designated groups,” the report said.

Regarding other designated groups, the 2021 results show no year-over-year progress for Indigenous Peoples, and visible minorities, Indigenous Peoples and people with disabilities remain significantly under-represented on Canadian boards.

Tyrone Hodgson

Incurable food practitioner. Tv lover. Award-winning social media maven. Internet guru. Travel aficionado.

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