OSC could compel companies to put more women on boards

Ontario public companies could soon be required to appoint more women to its boards of directors.

In an interview with the Globe and Mail, Laurel Broten, Ontario’s minister responsible for women’s issues, told the newspaper the “provincial government is working with the Ontario Securities Commission on ways to compel companies to set goals for boosting the number of women sitting as corporate directors, as well as in senior management.”

Read: Bring women on board: Budget

Women currently comprise only 11% of board members for firms on the S&P/TSX Composite, says a March 2013 TD Economics report.

And at the current pace, it will take 228 years for women to be participating at the same level as men in education, healthcare, politics and the economy, says a 2013 Canadian Centre for Policy Alternatives report.

This call comes at a time when almost 90% of Canadians are governed by female premiers.

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