The Globe and Mail reports in its Tuesday edition that initial public offerings are coming-out parties for companies. The Globe's Jeffrey Jones writes that with investors focused on environmental, social and governance issues, gender equality at the highest levels of these companies should be second nature. It is not. New research shows that the percentage of women on boards of Canadian companies making Toronto Stock Exchange debuts this year, by IPO or shift from another market, is dismally low. Despite all the blather about ESG among investors and in the media, it is still very much a bro-fest in the board room. So far this year, there have been 61 new listings on the TSX, bringing with them a total of 318 board seats. Of those, just 79, or 25 per cent, are filled by women. Dig a bit deeper, and the picture worsens. Average female board representation among the newly listed companies is just 19 per cent. There are just three women who serve as board chairs -- Dawn Whittaker at Triple Flag Precious Metals, Laura Formusa at Tantalus Systems and Genevieve Young at Auxly Cannabis. Renah Persofsky is vice-chair and lead director at Tilray. Twenty-seven per cent of public companies in Canada have no female directors.
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