There has been an increase in the number of women on boards, finds a review by CSA. In fact, the total percentage of board seats occupied by women has increased to 14% in 2017, from 11% in 2015, the first year of the review.
“Completing and publishing our third review fulfills our commitment to report on the representation of women on boards and in executive officer positions, following the implementation of disclosure requirements that aim to increase transparency for investors,” says Louis Morisset, CSA chair and president, and CEO of the Autorité des marchés financiers.
- Of the issuers with a market capitalization over $10 billion, 24% of board seats are held by women, compared with 21% in the first year.
- 61% of issuers have at least one woman on their boards, compared to 49% in the first year.
- The percentage of issuers with at least one woman in an executive officer position increased to 62%, from 60% in the first year.
- 35% of issuers have adopted a policy on identifying and nominating female directors, representing a 20% increase over three years. Those issuers that have adopted such a policy had a higher percentage of women on their boards.
The CSA notice summarizes results from a review of the corporate governance disclosure of 660 non-venture issuers with year ends between December 31, 2016 and March 31, 2017, as it relates to women in leadership roles.
The OSC’s roundtable to discuss this issue will be held October 24.