Female representation on Canadian corporate boards increased this year, according to a report by the Canadian Securities Administrators (CSA).
A report released Thursday found that 45 per cent of vacant board positions were filled by women this year, which is a 10 per cent increase from a year ago.
Data collected on March 31 showed women held 24 per cent of board seats, a two per cent gain from last year. Of these seats, seven per cent are chairman positions.
The number of board seats occupied by women has more than doubled since the CSA survey first began eight years ago.
The industries that had the most female board representation were manufacturing, real estate and utilities. On the other end of the spectrum, the oil and gas sector, mining and biotechnology had the least.
“Investors are increasingly looking for more information about diversity on boards and in executive officer positions," Stan Magidson, the chair of the Canadian Securities Administrators, said in the press release.
The report also found that 39 per cent of businesses have adopted targets for female representation on their boards, which is up seven per cent from last year.
“The increased representation of women in corporate board rooms and in senior leadership is encouraging,” Magidson stated.
“The findings above were the result of the Canadian Securities Administrators eight annual review of the representation of women on boards and in executive officer positions in Canada. The data was collected by the disclosures of 625 non-venture issuers and have been published by securities regulatory authorities throughout the country.“