Toronto (September 29, 2015)—Today, Catalyst Canada Executive Director Alex Johnston participated in a roundtable hosted by the Ontario Securities Commission (OSC) to discuss the first review of TSX-listed issuers since the implementation of new disclosure requirements regarding the representation of women on boards and in senior management.
The panel, composed of business leaders and advocates, heard results from more than 700 TSX-issued companies on the current numbers of women on their boards and in executive officer positions. It also heard updates on future targets, term limits or other mechanisms for board renewal, and progress on the development of policies for identifying and nominating women directors. Under the new rules, companies that have not adopted policies for advancing women are required to disclose their reasons for not doing so.
“The results of the review are both encouraging and sobering, clearly a work in progress, and that is pretty much what we expected,” says Ms. Johnston. “There’s no doubt that the new rules represent an endorsement of the importance of gender diversity in the workplace, and a step forward for women business leaders. We now just need to keep the pressure on. Investors and other stakeholders want increased transparency from the companies they invest in, and we need to hold them accountable.”
Ms. Johnston adds that, “For Canada to remain competitive in the global marketplace, we must leverage our diverse workforce, and accelerate advancement for women. It's well established that gender diversity at executive levels benefits corporate decision-making and helps drive better business results.”
Alex Johnston is available to further comment on the OSC review and key discussion points from the roundtable. Please contact: Francine Beck at [email protected] or +1 416 725 3710.