Women comprise 34% of new Canadian board appointments: report

Gender diversity is increasing on the boards of Canada’s 100 largest publicly-traded companies, according to a new report by KPMG Canada.

It found women comprised 34 per cent of new board appointments since 2014. These women were slightly younger than their male counterparts, more educated, far more likely to come from outside the organization and more likely to participate on key board committees.

Of female directors on these boards, 41 per cent were newly appointed, compared to 43 per cent of men. In addition, 21 per cent of these directors served on three or more boards, while 83 per cent served on at least one board committee.

Read: Canada’s largest institutional investors call for 30% women on boards by 2022

The report also found more than a third (34.2 per cent) of female directors were actively employed in addition to their board service and 34 per cent held the title of chief executive officer or president.

“Canadian organizations have made great strides on gender equity at the board level over the last six years, both in terms or the number and quality of members,” said Kristine Remedios, chief inclusion and social impact officer at KPMG Canada, in a press release. “Just six years ago, one-third of these boards were all male. Today, it’s just one in 25.”

The report proved Canada’s comply-or-explain policy hasn’t resulted in token board appointments, she added. “The women appointed over the last six years bring a wealth of experience and expertise to their roles.”

Read: Canada seeing measurable improvements in women on corporate boards: report