Report from Catalyst and the 30% Club Canada Shows Progress for Women on Boards and Executive Teams at Canada’s Largest CompaniesMarch 5, 2020
Toronto, ON – A new report from Catalyst and the 30% Club Canada, Women in Leadership at S&P/TSX Companies, reveals encouraging progress for women on boards and executive teams at companies in the S&P/TSX Composite Index, widely viewed as a barometer of the Canadian economy. According to the report, the percentage of women on boards has risen from 18.3% to 27.6%, and women on executive teams from 15.0% to 17.9%, over the past five years.
“We are definitely seeing progress for these index companies, particularly when it comes to advancing women on boards, and these numbers reinforce that this country’s largest companies are leading the pack in this area,” says Tanya van Biesen, Executive Director, Canada, Catalyst. “But there is clearly still much work to do to accelerate progress for women at the executive level.”
“We applaud those companies that have achieved 30% or more women on boards and executive teams,” says Louisa Greco, Partner, McKinsey & Company and Co-Chair, 30% Club Canada. “They understand that improving these numbers is an economic imperative.”
“Gender-diverse teams not only encourage better leadership and governance, but also contribute to increased corporate performance for both the company and its shareholders, a win-win for everyone,” says David Pathe, Chairman, President & CEO, Sherritt International Corporation and Co-Chair, 30% Club Canada.
The report offers a snapshot of progress for the companies included in the S&P/TSX Composite Index over a five-year time period ending December 31, 2019, as well as a comparative perspective on progress versus all disclosing companies on the TSX. It also provides a full list of index companies with 30% or more women on boards and 30% or more women on executive teams.
Data for the report was supplied by MarketIntelWorks, a data research and analytics company with a focus on gender diversity.
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Catalyst is a global nonprofit working with some of the world’s most powerful CEOs and leading companies to help build workplaces that work for women. Founded in 1962, Catalyst drives change with pioneering research, practical tools, and proven solutions to accelerate and advance women into leadership—because progress for women is progress for everyone.
About the 30% Club Canada
Recognizing Canada’s distinct corporate governance framework, the aim of the 30% Club Canada is to engage both board Chairs and CEOs to achieve better gender balance at board level, as well at executive management levels.
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