A report by the Canadian Securities Administrators has found that women hold 12 per cent of board positions in Alberta, an increase from 11 per cent in 2017 and eight per cent in 2014.
The CSA review included 143 TSX-listed Alberta-based companies.
“We continue to highlight this information for issuers in the Alberta market as we have heard from investors that it is important to their voting and investment decisions,” said Stan Magidson, chair and chief executive officer of the Alberta Securities Commission.
The report on Alberta also said:
- 63 per cent of companies have one or more women on their board, compared with 46 per cent in 2017 and 46 per cent in 2014; 57 per cent report having one or more women in executive officer positions;
- 24 per cent of board vacancies were filled by women in 2018, a slight decrease from 25 per cent in 2017;
- Alberta’s largest companies continue to have the highest percentage of gender diversity among board members. Of the companies that form part of the TSX 60 Index, 24 per cent of board positions are held by women, 15 per cent of board vacancies were filled by women, 100 per cent have two or more women on their board, and 77 per cent report one or more women in their executive ranks.
Nationally, the report cited the following key trends:
- the total percentage of board seats held by women increased to 15 per cent in 2018 from 11 per cent in 2015;
- when board seats became available and were filled, nearly three in 10 were filled by women;
- the number of issuers with at least one woman on their board increased to 66 per cent in 2018, from 49 per cent in 2015;
- 42 per cent of issuers had adopted a policy on identifying and nominating women directors in 2018, representing an almost three-fold increase since 2015;
- issuers that adopted targets for the representation of women on their boards increased to 16 per cent in 2018 from seven per cent in 2015;
- the number of issuers with at least one woman in executive officer positions increased to 66 per cent in 2018, from 60 per cent in 2015.
“Completing and publishing this review supports our ongoing focus on ensuring that information that investors use to make investment and voting decisions is readily available,” said Louis Morisset, CSA chair, president and CEO of the Autorité des marchés financiers.
Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald, including 12 years as a senior business writer.
The views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.
