October 24, 2017
An analysis authored by four Torys lawyers has received Canada-wide coverage after it said the support of institutional investors is the key driving change in the number of females in executive positions and on boards.
The analysis is of the Canadian securities regulators’ three-year report into women on boards and has been shared across more than 15 mastheads across the country, including the Financial Post, Business News Network.
The authors—Rima Ramchandani, David Seville, Glen Johnson, and Sophia Tolias—said the advance includes just a 3 per cent increase in the percentage of Canadian board seats filled by women, up from 11 per cent two years ago. Female representation on boards of large-cap issuers (over $1 billion) is stronger, at 20 per cent in 2017, but only rose by 2 per cent over last year.
“Nearly 40 per cent of all issuers continue to have no female directors or executive officers. While there have been gains at the board level, the representation of women in executive officer positions has remained relatively flat over the last two years. From 60 per cent in 2016, now 62 per cent of issuers have at least one woman in an executive officer position,” the analysis reads.
The story has appeared in the following mastheads:
The analysis forms part of the Torys Quarterly Fall 2017 edition, released on October 24. The Q4 edition touches on various industry updates across a number of sectors, including, M&A, corporate governance, and litigation.
More on Torys Diversity can be found here.