Board Diversity – Are You an Agent of Change?
It still surprises me that there has been little change in Corporate Canada in terms of adding more women to TSX listed boards. It has been four years since the Ontario Securities Commission (OSC) implemented disclosure rules mandating that TSX-listed companies “comply or explain” as relates to their board diversity figures. The implementation was intended to lead to positive changes in how corporate boards recruit new board members, however, according to the recent Osler, Hoskin & Harcourt report 2018 Diversity Disclosure Practices, only 16.4% of directors sitting on corporate boards in 2018 were women. This change represents a slight increase in the average proportion of women on the board compared to prior years when the average percentage of female directors was relatively stagnant (12% in 2015, 13% in 2016 and 14.5% [...]