by Melissa Shin
Originally published: November 28, 2017
It used to be that only activist shareholders paid attention to board diversity. But today, the issue has also caught the attention of regulators: on Oct. 5, CSA published its third review on the status of corporate diversity when it comes to Canadian non-venture issuers.
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There’s also an investment reason to look at board composition.
“The board has a fairly significant effect on long-term strategic decisions of the company, and we want to ensure we have boards that are aligned with our interests,” says Colum McKinley, vice-president of Canadian equities at CIBC Asset Management, and a manager of the Renaissance Canadian Core Value fund. “There’s a number of components that go into that, [including] board diversity.”