Sep 18, 2019
The results of Osler’s fifth annual report on diversity disclosure practices which focuses on women in leadership roles in TSX-listed companies reveals that despite consistent growth in the number of women on Canadian boards, there has been no increase from previous years in the proportion of female chief executive officers. S&P/TSX 60 boards have achieved their 30% Club goal, which aimed to have women in 30% of board positions, however the year-over-year increase in the proportion of board seats has slowed. Among all disclosing TSX-listed companies, a new record number of women now hold board positions—18.2%, representing a 50% increase from 2015 numbers, further evidence of a collective commitment to increase board diversity across corporate Canada.
Other key highlights from the report:
- Over three quarters (76%) of all companies have at least one female director and more than 90% of S&P/TSX 60 companies have more than one woman director (38.7% of all companies)
- A majority (52.7%) of S&P/TSX 60 companies have adopted a target for the proportion of female directors on the board, compared to 22.5% of companies overall
- Only 3.5% of companies have a woman as CEO
- Few companies (only 6.7%) of disclosing companies have adopted targets for the proportion of female executive officers
Our 2019 Diversity Disclosure Practices report, conducted as in previous years by Osler’s Corporate Governance Group, is an extensive review and analysis of diversity disclosure by TSX-listed companies, with summarized survey results for the full 2018 calendar year, and the period January 1, 2019 to July 31, 2019. The report highlights best practices for improving gender diversity among boards and executive teams, and this year includes a chapter dedicated to excellence in disclosure.
Research methodology
Data presented in this infographic and our 2019 Diversity Disclosure Report were obtained by surveying public disclosure documents filed by all TSX-listed companies other than venture issuers, exchange-traded funds, closed-end funds and structured notes. Research methodology is detailed in the report on page 13.
Learn more
Interested in learning more about the research findings and gender diversity in corporate Canada? Read the full report, 2019 Diversity Disclosure Practices Report: Women in leadership roles at TSX-listed companies [PDF], or contact Andrew MacDougall or John Valley in Osler’s Corporate Governance Group.