2020 was another year of record progress for women on the boards of Canada’s largest companies. Women comprised virtually half of the pool of incoming non-executive directors (“NXDs”) in 2020, for the second consecutive year. This helped push the total share of CSSBI 100 directorships held by women to 31% in 2020 (another high mark), and 35% higher than in 2015. Gender diversity targets, employed by 51% of CSSBI 100 boards in 2020, have played a part in increasing and sustaining the number of women on many boards. Additionally, the number of women serving in board leadership roles also hit a record high in 2020.
CSSBI 100 boards were close to being fully gender balanced in 2020
CSSBI 100 boards with a minimum gender diversity target for their boards in 2020
CSSBI 100 boards with gender diversity targets either achieved or surpassed them as of September 2020
Appointments of women as a percentage of total incoming non-executive directors
Total share of board directorships held by women also reach a record high
Board gender diversity by industry in 2020: average percentage of total board directorships held by women
Total number of women serving in board leadership roles
|Board chairs, vice-chairs and lead directors||17||8||10|
|Audit committee chairs||30||20||13|
|Governance and nominating committee chairs||35||14||12|
|Human resources and compensation committee chairs||29||16||10|
|Environment, health and safety committee chairs||13||5||5|
|Other committee chair roles||19||7||0|
The Canada Spencer Stuart Board Index (“CSSBI”), currently in its 25th year, provides insights into the board practice practices of a representative index of 100 of Canada’s largest publicly traded companies with annual revenues exceeding $CAD 1 billion (the “CSSBI 100”). Click here to access the full report.