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Female Leadership Representation on the Rise in Canada

A key variable to improving the gender pay gap is having more women in leadership positions.

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This is something that is beginning to take hold in Canada, according to a report from Catalyst and the 30% Club Canada. The report, “Women in Leadership at S&P/TSX Companies,” reveals encouraging progress for women on boards and executive teams at companies in the S&P/TSX Composite Index, widely viewed as a barometer of the Canadian economy.

According to the report, the percentage of women on boards has risen from 18.3% to 27.6%, and women on executive teams from 15% to 17.9%, over the past five years. 

“We are definitely seeing progress for these index companies, particularly when it comes to advancing women on boards, and these numbers reinforce that this country's largest companies are leading the pack in this area,” said Tanya van Biesen, executive director, Canada, Catalyst. “But there is clearly still much work to do to accelerate progress for women at the executive level.”

The report offers a snapshot of progress for the companies included in the S&P/TSX Composite Index over a five-year time period ending Dec. 31, 2019, as well as a comparative perspective on progress versus all disclosing companies on the TSX. It also provides a full list of index companies with 30% or more women on boards and 30% or more women on executive teams.

As of Aug. 2019, for the first time in Canada’s history, every company in the S&P/TSX Composite Index had at least one woman on its board.

“Gender-diverse teams not only encourage better leadership and governance, but also contribute to increased corporate performance for both the company and its shareholders, a win-win for everyone,” said David Pathe, Chairman, President & CEO, Sherritt International Corporation and Co-Chair, 30% Club Canada.

Data for the report was supplied by MarketIntelWorks, a data research and analytics company with a focus on gender diversity.


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