2019 was a 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 in 2019, for the first time in the 24 years of the CSSBI. This helped push the total share of CSSBI 100 directorships held by women in 2019 to 30% (another high mark), and a significant increase of 52% in five years. Gender diversity targets, employed by 50% of CSSBI 100 boards in 2019, have certainly 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 2019.
2019 Snapshot
14
CSSBI 100 boards were close to being fully gender balanced in 2019
|
50
CSSBI 100 boards had a minimum gender diversity target for their boards in 2019
|
2/3
of CSSBI 100 boards with gender diversity targets either achieved or surpassed them as of September 2019
|
Appointments of women annually (as a percent of total new non-executive directors) reached a record high
| 2019 |
|
| 1-year (2018) |
|
| 3-year (2016) |
|
| 5-year (2014) |
|
| 10-year (2009) |
|
Total share of board directorships held by women also reach a record high
| 2019 |
|
| 1-year (2018) |
|
| 3-year (2016) |
|
| 5-year (2014) |
|
| 10-year (2009) |
|
Average percentage of total board directorships held by women: Industry Breakdown
| Financial Services |
|
| Consumer |
|
| Transportation |
|
| Energy |
|
| Communications, Technology, Media |
|
| Mining and Metals |
|
| Industrials |
|
Total number of women serving board leadership roles
|
2019 |
2015 |
2012 |
| Board chairs, vice-chairs and lead directors |
15 |
8 |
10 |
| Audit committee chairs |
29 |
20 |
13 |
| Governance and nominating committee chairs |
28 |
14 |
12 |
| Human resources and compensation committee chairs |
30 |
16 |
10 |
| Environment, health and safety committee chairs |
12 |
5 |
5 |
| Other committee chair roles |
13 |
7 |
0 |
| Total |
127 |
70 |
50 |
The Canada Spencer Stuart Board Index (“CSSBI”), currently in its 24th year, provides insights into the governance practices of a representative sample of 100 of Canada’s largest publicly traded Canadian companies (the “CSSBI 100”), with annual revenues exceeding $1 billion. You can access the full report and other insights by clicking the button below.