Canadian Leadership Diversity Index results announced by Corporate Knights magazine
Tuesday, October 30th 2007 5:04:08pm
Attention News/Business/National/Careers/Diversity Reporters and Assignment Editors
(Toronto, Canada, October 31, 2007) Released today, the current issue of Corporate Knights Magazine contains the first-annual Corporate Knights Leadership Diversity Index. The Index identifies the top ten Canadian companies which have achieved the greatest visible minority and female representation in both the boardroom and the CEO’s suite.
The top performing companies in the 2007 Corporate Knights Leadership Diversity Index are as follows:
1. Vancouver City Savings Credit Union (HQ - Vancouver)
2. Royal Bank of Canada (HQ - Toronto)
3. Husky Energy Inc. (HQ - Calgary)
4. Corus Entertainment Inc. (HQ - Toronto)
5. Hydro One (HQ - Toronto)
6. McKesson Canada (HQ - Saint-Laurent)
7. Hewlett-Packard (HQ - Mississauga)
8. Bank Of Montreal (HQ - Toronto)
9. Petro-Canada (HQ - Calgary)
10. Shell Canada (HQ - Calgary)
Vancouver City Savings Credit Union (Vancity) was the most diverse company, with an overall score of 71.9 per cent. Royal Bank of Canada, Husky Energy Inc., Corus Entertainment Inc., and Hydro One rounded out the top five, all with overall scores above 35 per cent.
The findings also identify a failure in corporations to reflect Canada’s demographics. Of the 140 surveyed, 75 per cent of boards of directors had no visible minorities, and 23 per cent had no women. There were no female CEOs.
In comparison, 13 Fortune 500 companies, or less than 3 percent, are headed by women. This is up slightly from 2006, when there were just 10 female CEOs. As of 2007, a woman leads only one Fortune 50 company.
Background - How was the CK Leadership Diversity Index determined?
Using the most recent financial and proxy statements available, Corporate Knights examined companies in the S&P/TSX 60, the top 50 on the FP500 and/or ROB1000, all the companies in the Jantzi Social Index, the top 25 holdings of the Ethical Canadian Index Fund, and additional companies with significant operations in the communications, chemicals, utilities, retail, mining, oil and gas, finance, and forestry sectors. In the case of a subsidiary, the parent company’s data was used. Titled “Minority Report,” the analysis of the findings explains why diversity matters and looks at the best practices of diverse firms, as well as the challenges faced by non-white and/or female executives in today’s workplace. As well, executives were asked for their advice for the rest of Corporate Canada.
For the full report see Corporate Knights Magazine Vol. 6.2: www.corporateknights.ca
To schedule interviews with Toby Heaps, the Editor of Corporate Knights, or Melissa Shin, Diversity Index Project Manager, contact Don Huff at Environmental Communication Options: 416-972-7404, (cell) 416-805-7720 or firstname.lastname@example.org.
About Corporate Knights: Founded in 2002, Corporate Knights Inc. is an independent Canadian-based media company focused on prompting and reinforcing sustainable development in Canada.