Is There An Appetite For Diversity Quotas In Canada?

Gender diversity on corporate boards continues to be a hot topic for activist shareholder groups in Canada. At the end of April 2015, the shareholders of BCE Inc. will vote on a proposal that would impose a strict quota on the proportion of women appointed to its 13-person board. The proposal is being advanced by a group of shareholders styled as Mouvement d'éducation et de défense des actionnaires (Médac). While the group has proposed gender-related resolutions before, this is the first time that it has sought to impose a strict quota on the company. The quota would require BCE to maintain a minimum of 40% female representation on its board by 2020. While BCE has itself pledged that women will occupy at least one-quarter of independent directorships by the end of 2016, Médac's view is that this does not go far enough.