Mar 08, 2013
By Scott Walker
Just in time for international women’s day, a new report shows Canada is losing ground when it comes to the number of women in the corporate corridors of power.
The T-D Economics report says Canada has dropped from sixth place to ninth in the percentage of women acting as directors for large publicly listed companies. It found that women make up just eleven per cent of board members for firms listed on the TSX Composite Index.
Nearly half the companies on the index reported no female board member, while 28 per cent only have one.
TD Bank deputy chief economist Beata Caranci authored the report. She’s not recommending drastic measures such as quotas. She says that would undermine the women already on the board by suggesting they’re only there because a company needed to tick a box on a checklist.
But she’s recommending that companies disclose how much consideration they give to gender diversity when nominating new directors. Caranci also wants companies to disclose the number of women on their boards and the senior executive level so that progress can be measured over time.