It is proposed that Alimentation Couche-Tard’s Board of Directors adopt a policy to increase
female representation on the Board by considering a female candidate for every two vacancies.
WHEREAS
-In 2010, 166 women sat on the board of the 100 largest public Canadian companies,
representing 14.43% of the 1,150 board members, according to the Institute for
Governance of Private and Public Organizations (IGOPP).
-During 2010, 87 new members were elected on the board of these companies, which
corresponds to approximately 7% of total board members. One in five new members was
a woman.
-According to IGOPP, “based on an annual turnover rate of 7%, a policy of appointing one
woman for every two vacancies will lead to women representing 40% of board members
in 10 years” (Le Devoir, April 12, 2011). This method of increasing the participation of
women on boards has the advantage of considering the need for continuity while being
effective.
-In January 2011, the French government enacted a law compelling companies to meet a
quota of 20% of women on their board by 2014 and 40% by 2017. In Great Britain, a
government report (Women on Board) recommended that FSTE-100 companies set a
firm target of 25% of women on their boards by 2015. In Norway and Sweden,
representation reaches 32% and 27% respectively.
-According to the Conference Board of Canada, boards having two or more women are
more likely to exercise sound governance practices (Women on Boards, Not Just the
Right Thing . . .But the “Bright” Thing, 2002).
-According to a survey by McKinsey & Company, 62% of male executive officers (and 90%
of female executives) believe that companies with a significant number of female
executives demonstrate superior financial performance (Women Matter 2010).
-Although one woman sits on Alimentation Couche-Tard’s Board of directors, there are no
female executive officers. Having more women on the board could also bring about more
women in upper management.
-The Canadian Coalition for Good Governance (which includes several major Canadian
institutional investors) acknowledges the need for more diversity in terms of gender and
experience among directors of Canadian publicly-listed companies.