With our first annual survey, Report on Business intends to set a benchmark for gender diversity in corporate Canada. After evaluating hundreds of companies, we identified 73 at the forefront of women in leadership positions. On average, 44% of the executive roles for companies on the list are held by women. It’s not parity—but it’s not far off. This is what “good” looks like today. Consider it a starting point to track progress in the future.
2020 Women Lead Here honourees
With an average of 44% women comprising their executive ranks, these companies offer a benchmark for others. Companies were grouped by market cap, then listed alphabetically.
Company
Industry
Revenue growth YOY
Is a woman CEO or equivalent?
% women tier 2
% women tier 3
$5-billion plus
CAE Inc.
Industrial products
16.1
No
50
20
Dollarama Inc.
Retail
6.6
No
50
33
Fortis Inc.
Gas & electrical utilities
0.48
No
33
50
Genworth MI Canada
Insurance
-8.03
No
43
N/A
H&R REIT
Real estate developer
-18.85
No
33
40
Intact Financial
Insurance
13.29
No
40
32
Lundin Mining
Mining
-15.75
Yes
17
43
Parkland Fuel
Retail
50.46
No
38
N/A
Royal Bank of Canada
Banks
13.83
No
22
41
Sun Life Financial
Insurance
3.43
No
27
53
TC Energy
Management companies
-3.42
No
38
N/A
Toromont Industries
Wholesaler
49.19
No
0
100
$2-billion to $5-billion
Aritzia Inc.
Retail
16.06
No
50
100
Ballard Power Systems
Industrial products
-20.15
No
0
100
Boardwalk REIT
Real estate developer
2.11
No
40
50
Capital Power
Gas & electrical utilities
28.05
No
25
100
Chartwell Retirement Residence
Other services (retirement homes)
9.92
No
67
71
Colliers International
Other services (real estate)
16.06
No
14
77
Cominar REIT
Real estate developer
-12.01
No
67
27
Dream Unlimited
Real estate developer
1.07
Yes
50
N/A
First Capital REIT
Real estate developer
-26
No
50
67
First Majestic Silver
Precious metals
14.81
No
67
N/A
Green Thumb Industries
Biotech &pharmaceuticals
586.46
No
50
N/A
Hudson's Bay Co.
Retail
-1.24
Yes
22
N/A
Killam Apartment REIT
Real estate developer
15.03
No
60
67
Linamar Corp.
Industrial products
16.62
Yes
7
22
Lions Gate Entertainment
Entertainment
-10.86
No
38
33
PrairieSky Royalty
Oil & gas production
-21.02
No
50
100
Seven Generations Energy
Oil & gas production
31.95
No
33
38
TransAlta Corp.
Gas & electrical utilities
2.11
Yes
43
0
$500-million to $2-billion
AltaGas Canada
Oil & gas production
-0.41
No
67
0
Aphria Inc.
Biotech &pharmaceuticals
281.35
No
57
25
Cogeco Inc.
Broadcasting
8.35
No
33
60
Corus Entertainment
Entertainment
1.92
Yes
14
49
Equitable Group
Financial services
18.13
No
38
N/A
Laurentian Bank of Canada
Banks
13.29
No
17
58
Magellan Aerospace
Industrial products
1.18
No
100
29
Mainstreet Equity
Real estate developer
-6.76
No
0
100
MTY Food Group
Other services (restaurant)
26.83
No
40
45
New Look Vision Group
Other services (eye care)
27.48
No
50
50
Park Lawn
Other services (funeral homes)
84.03
No
0
75
Russel Metals
Wholesaler
26.29
No
100
57
Sienna Senior Living
Other services (retirement homes)
14.89
Yes
67
100
StorageVault Canada
Other
56.13
No
50
50
Torex Gold Resources
Precious metals
44.07
No
50
33
Under $500-milllion
Athabasca Oil Corporation
Oil & gas production
-3.61
No
0
100
BMTC Group
Retail
-0.19
Yes
50
0
Caldwell Partners Intl.
Other services (recruitment)
15.73
No
0
75
Calian Group
Other services (consulting)
10.74
No
25
100
Cervus Equipment
Consumer products
10.65
Yes
25
33
Chesswood Group
Retail
15.36
No
100
N/A
Clearwater Seafoods
Food production or distribution
-10.45
No
50
33
Conifex Timber
Forest products
42.59
No
100
25
Golden Star Resources
Precious metals
-11.82
No
25
67
Indigo Books & Music
Retail
-3.02
Yes
20
71
ISC
Other services (data management)
8.67
No
25
75
K-Bro Linen
Other services (uniforms)
40.51
Yes
50
N/A
Le Chateau
Retail
-6.62
Yes
50
50
Lucara Diamond
Mining
-20.19
Yes
100
50
MCAN Mortgage
Financial services
-1.87
Yes
38
N/A
Mediagrif Interactive Tech.
Technology
3.03
No
40
50
Mogo Inc.
Technology
24.9
No
50
N/A
Perpetual Energy
Oil & gas production
19.61
Yes
25
N/A
Pine Cliff Energy
Oil & gas production
-16.37
No
50
50
Prairie Provident Resources
Oil & gas production
-5.86
No
100
33
Reitmans (Canada)
Retail
-4.73
No
50
63
Roots Corporation
Retail
2.85
No
50
50
Sherritt International
Mining
-75.81
No
17
100
Sportscene Group
Other services (restaurant)
9.77
No
33
50
Trevali Mining
Mining
21.09
No
40
N/A
TVA Group
Broadcasting
-6.41
Yes
30
N/A
WildBrain
Entertainment
3.34
No
50
50
Yellow Pages
Publishing & printing
-20.71
No
0
100
Data source: Globe and Mail; Barchart Solutions
Market cap determined as of Feb. 28, 2020
Methodology
To create the inaugural Women Lead Here list, Report on Business magazine evaluated the 500 largest publicly traded companies in Canada, as determined by our annual Top 1000 list. Assessments were done during November and December of 2019, and represent the state of each company during that time. Our researchers evaluated each company’s top three tiers of executive leadership (Tier 1: CEO or equivalent; Tier 2: C-suite, president or equivalent; Tier 3: generally EVP, SVP or equivalent), measuring the ratio of female-identifying to male-identifying individuals at each tier. We contacted each evaluated company by email to confirm the accuracy of data. We then applied a weighted methodology. We also took into account the company’s profitability, revenue growth and three-year return using 2019 financial data. The diversity of an executive team was also considered. We then assigned each company a score and applied a final screen to the top quintile: Companies with fewer than 30% of overall executive roles held by women were excluded, as were companies with only one woman-identifying executive.