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Women on Corporate Boards

The Business Case for Women on Boards

Read The Business Case for Women on Boards.

Despite wide recognition that women on corporate boards can improve business results and positive change across companies, women hold only 15.9 per cent of total board seats across Financial Post 500 companies in Canada.

There is no shortage of talented and qualified women with the skills, education and experience to take on the challenges of corporate leadership. Companies without women on boards or in senior management are missing out on a significant portion of the talent pool.

Ontario’s Support for Gender Diversity on Corporate Boards

The Ontario government strongly supports broader gender diversity on corporate boards and in senior management positions and is working with the Ontario Securities Commission and others to consider ways for firms to increase the participation of women on their boards and in senior management.

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OSC Consultation Paper

Read the Ontario Securities Commission Consultation Paper on women on boards and in senior management. The Commission is seeking public comment until October 4, 2013.

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Consultation on Disclosure of Gender Diversity Policies

In June 2013, the Minister Responsible for Women’s Issues and the Minister of Finance asked the Ontario Securities Commission to undertake a public consultation regarding disclosure requirements for gender diversity specifically considering a comply-or-explain approach.

A comply-or-explain approach requires companies to develop gender diversity policies to guide recruitment and board appointment processes, and report on their progress to shareholders and customers.

Based on the feedback received through the consultation process, in January 2014 the Commission published recommendations requiring companies listed on the Toronto Stock Exchange to be more upfront about their gender diversity policies and practices.

Following public comment on the proposed recommendations, the Commission is expected to deliver its final report to the government later in 2014.