(Toronto) For the first time ever, women hold one-third of the directorships on the boards of companies that make up the Toronto Stock Exchange’s S&P/TSX composite index, ISS Corporate Solutions said on Monday.
The corporate governance firm said that after completing its analysis in January, 33.7% of board seats were women, up from 27.9% in January 2020.
In comparison, women held 32.3% of all S&P 500 directorships in the United States.
According to ISS, the number of female CEOs at S&P/TSX index companies increased from six in 2020 to nine in 2024, and the number of non-employee female CEOs increased from 13 to 22 over the course of 2020.
Racial and ethnic minorities now hold 14.1% of board positions at S&P/TSX companies, up from 8.3% in 2020.
ISS’ gender analysis is based on a review of 2,283 directorships, while the racial and ethnic diversity review examined 575 directorships.
“Canadian companies have a slight advantage over their American counterparts when it comes to gender diversity on boards, but there is still a long way to go when it comes to the proliferation of underrepresented minorities,” ISS CEO Marija Kramer said in a statement .
“But in a pioneering way, our analysis shows that racial and ethnic minorities are making a significant inroads into Canadian boards of directors, and this trend may well accelerate as regulations and policies push companies to disclose more about the individual characteristics of administrators. »
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