Progress shown in making boards more diverse

Increasing the visibility of qualified candidates from under-represented groups including women, visible minorities, and individuals with disabilities has led to 32 appointments to the boards of FP500 and Fortune 500 companies since 2012, according to the Canadian Board Diversity Council.

On Thursday, the CBDC and partners Deloitte Canada and Canadian Imperial Bank of Commerce added 50 names to a list that will contain 250 “board-ready” candidates compiled to give companies access to “a more-diverse range of backgrounds and experiences than what is traditionally sourced through a board’s existing network.”

Sherri Stevens, the owner and chief executive of the CBDC, said the list highlights candidates who have the knowledge, skills and experience to lead in corporate Canada but who otherwise “might not have the visibility or connections to get in front of hiring committees.”

The latest Diversity 50 candidates include 42 women and eight men. The list includes visible minorities, Aboriginals, people with disabilities, and a member of the LGBTQ community.

Stevens said the working committee compiling this year’s list noted an “overwhelming” increase in the quality of candidates who applied to be included.

Frank Vettese, chief executive of Deloitte Canada, said there is research to back up the push toward more inclusive boards.

“In our latest research on courage in business, we found that inclusion is a key element of courageous decision-making and action, which is critical to business success,” he said. “We continue to deepen our thinking on inclusion with further research because we know it has undisputable value and importance to our economy and to Canada’s future prosperity.”

CIBC chief executive Victor Dodig said “Diversity brings broader perspectives that enable boards to make better decisions.”