10:06:49 EDT Fri 29 Mar 2024
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Globe says OSC told needle hasn't moved much for women

2020-01-29 08:53 ET - In the News

The Globe and Mail reports in its Wednesday edition that women held fewer than one-fifth of director seats at corporate boards in 2017, while more than 60 per cent of boards were composed entirely of men. The Globe's Matt Lundy writes that a Statistics Canada report covering 10,100 companies conducting business in Canada -- including publicly traded and private corporations, along with government business enterprises such as Canada Post -- found that 18.1 per cent of director seats were held by women in 2017, a "slight increase" from 17.8 per cent in 2016. The majority of boards (61.2 per cent) had zero women, while 27.7 per cent had one female director and the remaining 11.1 per cent of boards had more than one. The study revealed a slow pace of change on corporate boards, with women occupying 19.2 per cent of new director positions in 2017. "If only 20 per cent of newly available positions are filled by women, it simply doesn't move the needle very much in any significant direction," said Beatrix Dart at the Rotman School of Management. Starting in 2015, the Ontario Securities Commission required companies listed on the Toronto Stock Exchange to disclose the number and proportion of women on their boards.

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