Canadian boardrooms are under increasing pressure to open their doors to ‘diverse’ candidates and our new study suggests that boards are increasingly making more room at the top. We found that boards are casting their nets wider in search of new talent – in 2018, nearly 75% of newly elected directors on the S&P/TSX Composite Index had never sat on a TSX index board before, compared to 57% in 2008. Our findings are in line with recent research by the NACD which found that 77% of newly appointed directors in the US were also sitting on their first public company board. In 2018, the percentage of new Canadian directors who were women or members of a visible minority had also more than doubled since 2008.
Check out our latest report to learn more!