Just two out of 14 board members at Telus Corp. (TSX:T) are women. The number is identical at Vancouver's Teck Resources (TSX:TCK.B, TCK.A).
The federal government wants those figures to jump dramatically in the next five years and see women attain 30% of all board positions at Canadian companies, according to recommendations from a report released June 26.
The study from Status of Women Canada also recommends the federal government institute a “comply or explain” approach in publicly traded companies’ annual reports. If a company is not pushing for more female representation on its board, they would be required to explain their lack of results within their annual report.
The study also calls for developing partnerships with prominent corporate chairpersons, Financial Post (FP) 500 companies, national business associations and provincial governments to push for more female representation in the boardroom.
Alex Johnston, executive director of businesswomen advocacy group Catalyst Canada, praised the report.
“(The plan) will help drive this important conversation into boardrooms and executive committees across the country,” she said in a statement.
“As companies compete around the world for market share, ideas, and talent, it has never been more evident that women leaders are essential to business success.”
About 16% of corporate board positions at FP500 companies in Canada are held by women, while 40% of publicly traded companies have no women sitting in the boardrooms at all.
Female representation on the boards of B.C.’s 10 biggest publicly traded companies by 2012 revenue (information compiled by Business In Vancouver, as of March 4):
Telus Corp. (TSX:T) One out of 13
Teck Resources (TSX:TCK.B, TCK.A) Two out of 14
Finning International (TSX:FTT) One out of 11
Goldcorp Inc. (TSX:G) Two out of 10
West Fraser Timber Co. (TSX:WFT) One out of nine
First Quantum Minerals (TSX:FM) One out of 12
Canfor Corp. (TSX:CFP) None
Lions Gate Entertainment Corp. (NYSE:LGF) One out of 12
Teekay Corp. (NYSE:TK) One out of 10
Methanex Corp. (TSX:MX) Two out of 11
