Quotes
Notable Contributions and Reactions to the Rosenzweig Report from This and Past Years
We cannot afford to backslide on the progress we have made on hiring, promoting, and retaining women at the highest levels in our workforce. That’s one of the reasons why tracking numbers around diversity is so important. Canada will always lead by example. After all, diversity is our strength. But to ensure the advancement of diverse women in positions of senior corporate leadership, we all need to work together. Not only because it is the right thing to do, but because it is also the smart thing to do.
| – | The Right Honourable Justin Trudeau, Prime Minister of Canada |
Having more women in business drives innovation, advances gender equality, and creates a stronger economy for all Canadians. The annual Rosenzweig Report shines a light on the existing gaps and educates business leaders, politicians, and society at large on the need to strive for greater gender equality. We know women face barriers when trying to grow or start a business, and Jay’s Report reminds us that we must keep pushing for change. To directly address this issue, our government launched a $6-billion Women Entrepreneurship Strategy to connect women to training, mentorship opportunities, and professional services - while also supporting their businesses throughout the COVID-19 pandemic. We welcome the day when there are no more “women business leaders” and “women entrepreneurs” – just simply business leaders and entrepreneurs.
| – | Marci Ien, Canadian Minister for Women and Gender Equality and Youth |
There’s nothing better than helping others who are less fortunate. Jay Rosenzweig grew up in Montreal with parents who taught him the importance of hard work and integrity. He dreams big, too, not just in business but also when it comes to social justice and fairness. Through his Rosenzweig Report, Jay has been fighting for inclusiveness, diversity and gender equality. This is the 17th consecutive year of the Rosenzweig Report and Jay’s tenacity shines through.
| – | Mark Cuban, Owner of the Dallas Mavericks Basketball Club, Philanthropist, Angel Investor in Countless Hightech Start-ups, and Star on ABC’s Long-time Hit Reality Television Show Shark Tank |
My mother and my older sisters all greatly impacted my upbringing. Their guidance helped me to where I am today. Women have a crucial part to play in the development of Cameroon, Africa, and across the world. They have been undervalued for far too long. Currently, my foundation is in the process of building girls-only programming that we plan to help fund for years to come. Lots still need to be worked out, but like Jay Rosenzweig, I’m committed to the betterment and advancement of girls and women in society.
| – | Pascal Siakam, Toronto Raptors Superstar Power Forward in the National Basketball Association |
To close the gender gap, we need to understand it. The Rosenzweig Report shines a light on the problem of too few women leaders in corporate Canada. Business leaders should use this data to push for change. Hiring and promoting talented women isn’t just the right thing to do. It’s a core business imperative.
| – | Sheryl Sandberg, COO of Facebook & Founder of Leanin.org & Option B |
Only when women are on equal parity with men in all spheres of activity, we will be ready for a more peaceful just sustainable and healthy world.
| – | Deepak Chopra, M.D., F.A.C.P., Founder of the Chopra Center for Wellbeing & One of the Master Teachers of Eastern Philosophy in the Western World |
Women have so much more to achieve, due to lack of opportunities! And progress is slow. But in this fight, we need allies. Years ago, a note from an anonymous friend told me I was being discriminated against in the workplace and being paid less money simply because I am a woman. That led to my fight for justice that ultimately made a difference for all women. A movie about my struggle is coming out within the next year and, hopefully it will bring even more attention to the issue of gender equality. I appreciate that the Rosenzweig Report shines a spotlight on the issues.
| – | Lilly Ledbetter, an American Activist & Plaintiff in the United States Supreme Court Case Ledbetter v. Goodyear Tire & Rubber Regarding Employment Discrimination. Barrack Obama’s First Piece of Legislation was the Lilly Ledbetter Fair Pay Act of 2009 (Jay is Helping to Produce the Upcoming Movie & Impact Movement Inspired by Lilly’s Life) |
Women are the backbone of our communities, but we are too sidelined or encouraged into professional pathways less likely to lead to executive leadership. What’s worse, public policies and practices continue to punish women for seeking personal independence, freedom of our own expression, and personal safety. Even now, our criminal legal system deals far harsher sentences to women, and young girls are too often objectified, sexualized, and punished when they seek to protect themselves. The Rosenzweig Report—and Jay Rosenzweig's vital human rights work—plays a critical role in shining a light on executive leadership practices. By doing so, The Report creates new insights into reliable pathways into leadership, new opportunities for women everywhere, and new pressure to align our community values with practices that support women's true and full access to opportunity.
| – | Topeka K. Sam, Founder & Chief Executive Officer of The Ladies of Hope Ministries, INC |
I spent almost a decade working with an amazing ambassador to the UN for human rights. In seeing her travel the world, I witnessed how five dollars can go a long way in certain countries, especially in countries with fragile governments and human rights abuses. Ten dollars can go even farther. What is so little for some can be a lot for others. At NEXUS, we believe in building networks and communities that accelerate positive social change. Something seemingly small can grow into a catalyst for big change. We are all connected. No woman is an island. No human is an island. Jay Rosenzweig has long been building a network and community that strives for gender equality, diversity and inclusion. I am thrilled Jay is part of the NEXUS family and honored to be associated with the annual Rosenzweig Report. Keep up the great work, Jay!
| – | Rachel Gerrol, Co-Founder and CEO of NEXUS, the Leading International Network of Next Generation Philanthropists & Impact Investors, with More than 6,000 Members from 70+ Countries Representing Families with a Combined Net Worth of $650 Billion. She Works at The Intersection of Philanthropy, Social Innovation & Community Building |
Women are the backbone of a progressive society, and yet it is so hard to be a woman, especially a woman of colour. While it is difficult, we see women stepping up everywhere. Women should not have to fight this fight alone. We all have our blind spots, and we need each other. Jay Rosenzweig deserves kudos for tracking the number of women in leadership and for his actions and advocacy for change. Only through measurement and education can we hold one another to account and spur greater action to affect the positive transformational change.
| – | Van Jones, CNN Host, Social Entrepreneur, Founder of Several Thriving Enterprises Including REFORM Alliance, Color of Change, Ella Baker Center for Human Rights & Dream Corps |
Obtaining dignity, respect and advancement for women is not just a woman's issue, it’s a human rights issue. It requires including men and welcoming their help to change behaviour and perceptions. Jay Rosenzweig, through The Rosenzweig Report and his support for the #MeToo movement, shows that men can be important and effective allies and advocates for real change.
| – | Alyssa Milano, Actor, Producer, Designer, Mother, Activist |
I am passionate about positive change, especially when it comes to the environment, women’s rights and humanity in general. I like to surround myself with change-makers who identify problems and set out to make things better. That’s why I invited Jay Rosenzweig to join the Advisory Board of our investment company FullCycle, which invests in climate restoration technologies aimed at reversing the effects of climate change. For 20 years, Jay has been fighting to make the corporate world more diverse, more equitable, more inclusive. Numerous studies, from business schools to management consultant firms, show that more diversity and gender equality in boardrooms and executive offices improve company performance. Jay identified this fact long ago, but even more importantly understands the moral imperative of equality. When it comes to climate change, I often say: ‘Every single person on this planet is a stakeholder for what happens next.’ The same can be said in business about gender equality and inclusion and diversity. I’m honored to call him a friend and it says something hopeful that I, a Palestinian American, and Jay, a Jewish Canadian can, work in harmony together and with such great mutual respect.
| – | Ibrahim AlHusseini, American Investor, Entrepreneur & Environmentalist |
The numbers speak for themselves: Companies that are diverse are 75% more likely to bring innovative ideas to market and 70% more likely to capture new markets; companies with female leadership deliver 1.4x sustained profitable growth. Unfortunately, the pandemic has set women back – it will take an additional 36 years to close the global gender gap, bringing the total to 136 years, according to the World Economic Forum. In just two years, it has increased by an entire generation! With partners like Jay Rosenzweig, we are working to close the gaps and change the equation; it’s time to reimagine the workplace and make it more equitable.
| – | Shelley Zalis, CEO and Founder of The Female Quotient, is an Internationally Renowned Entrepreneur and Speaker, Movement Maker, and Champion of Gender Equality |
I was born a village girl but didn't become a village woman in rural Uganda because of the spirit of Ubuntu, a famous South African concept by Rev. Desmond Tutu. The community taught me the passion and commitment to gender empowerment - to leave no one behind. To pay it forward, I have been blessed to mentor thousands of female entrepreneurs and leaders in Africa through my work. I have witnessed paradigm shifts happen when women know who they are, believe in themselves, and stand on the shoulders of other women to leverage their networks. We have to remember that "leadership is like a candle, one can light many without losing its glow, together, they create better light and more heat." I commend Jay Rosenzweig's work in championing women's leadership.
| – | Rehmah Kasule, Founder, CEDA International, Senior Fellow, Harvard Advanced Leadership Initiative; Thought Leader in Gender, Social Impact, Strategy, and Sustainability |
Jay’s work as a philanthropist and social justice fighter is unparalleled. The elite community of thought leaders that support him are a direct result of his impact across the globe. He has become not just a mentor to me, but a brother. Together we continue to affect real change through socially conscious NFTs and I am honored to be his friend and colleague.
| – | David Bianchi, Acclaimed Actor, Filmmaker, Poet, Multimedia NFT Artist, Creator of Spinema Spoken Word Cinema |
I am honored and humbled to have the chance to wake up each and every day knowing that my job is so much more than a title – it is all about passing the torch on to other young women and students to design the careers they love. My true belief lies in knowing that a woman can be everything she wants to be and together with a growth mindset, there is nothing we can’t do. I commend Jay Rosenzweig’s report for spotlighting women’s achievements and opportunities for growth that are paramount to economies advancing initiatives that help women realize their full potential.
| – | Lisa Mayer, Co-Founder & CEO, Boss Beauties |
As someone who appreciates the value of keeping score and understands the power of numbers, I applaud Jay Rosenzweig for tracking the advancement of women in the corporate world. Progress in gender equality requires careful measurement and accountability. By presenting the facts on an annual basis, The Rosenzweig Report performs an invaluable service. As one who is passionate about defending human rights and fostering human dignity, I commend this outstanding effort.
| – | Dikembe Mutombo, NBA Hall of Famer, Board Director, & Humanitarian |
My mantra has always been that we're not here to just exist, but to impact people in their lives. As a songwriter and singer, in songs like 'Rise Up', I have tried to inspire people to reach deep within themselves, no matter the adversity; to move mountains. For women, one of those mountains exists in the business world. I believe the Rosenzweig Report inspires women to reach for the top as leaders who can impact others for good.
| – | Andra Day, Award Winning Singer/Songwriter & Actress |
My belief in the power of women reaches back to my earliest memories. My mom would kiss me every night and say these words: ‘I am your mother Mary and God is a woman, sleep well my child’. As I grew older, I realized it made me a better man. Judging by his tireless work for gender equality, Jay Rosenzweig grew up under the same warm, maternalistic blanket of his mother. I commend Jay for encouraging the advancement of women in leadership.
| – | Isiah Thomas, International Businessman, NBA Champion and Hall of Famer, Humanitarian |
This International Women’s Day enables us an opportunity to celebrate the progress we are making advancing women into leadership and board positions as we have increasingly committed as a collective to investing in ensuring our leadership teams and boards reflect the diversity of our population. It also presents an opportunity for us as a society to collectively more boldly and urgently commit to approaching the advancement of women now only through the highly intentional and intersectional lens of equity.
| – | Jodi Kovitz, Chief Growth Officer Vetster Inc., Founder #movethedial |
In the music business, success most often comes when hard work and perseverance meet up with opportunity. For women in the corporate world, it is much the same. If given the opportunity, women can make a real difference as corporate leaders. The Rosenzweig Report is valuable because it meticulously charts the lagging presence of women, including women of color, in top corporate jobs. It is a clarion call to do better.
| – | Erica Campbell, Five-Time Grammy Award-Winning Recording Artist; Popular Morning Radio Host; Reality TV Show Star; Author; Pastor |
I want to inspire young girls to pursue their dreams. Young girls don’t want pity. They don’t want handouts. What they do want is for people to believe in them and give them a fair chance, whether in the arts, business or whatever endeavor they wish to follow. The Rosenzweig report plays an important role in highlighting that there is a lot of work to be done to close the gender gap, so that we can achieve equality and shatter glass ceilings that continue to hold women back. I commend Jay Rosenzweig for championing this report year after year. I always look forward to reading about the steps taken closer towards gender equality, as well as to his suggestions on what we can do together to make the necessary changes needed to make the goal achievable.
| – | Sherrie Silver, Creative Director, Choreographer & UN IFAD Advocate for Rural Youth |
My grandfather was a great man who strongly advocated for women’s rights. He famously stated that “As long as women are bound by poverty and as long as they are looked down upon, human rights will lack substance”, and that “Freedom cannot be achieved unless women have been emancipated”. He would be the first to say that if not for courageous women leaders like Albertina Sisulu, Lilian Ngoyi, Winnie Madikizela and many others, the fight to end Apartheid and the building of democracy in South Africa would have been far, far more difficult. Dynamic women leaders are the backbone of our democracy. I applaud The Rosenzweig Report for trumpeting the need for more women leaders for so many years.
| – | Ndaba Mandela, Humanitarian, Mentor, Entrepreneur, Political Consultant, Chairman and Co-Founder of Africa Rising Foundation, and Author of Going to the Mountain: Life Lessons from My Grandfather, Nelson Mandela |
Congratulations to Jay and the Rosenzweig Report for putting facts and figures to how far we need to go to achieve a degree of equity for women in the workplace. Companies and societies function better with women in leadership. You can’t improve what you don’t measure. The Rosenzweig Report enables progress.
| – | Andrew Yang, Founder of Humanity Forward & Lobby3DAO, & Former US Presidential Candidate |
We need more than women in positions of power. We need women there who are clear about the purpose of power: not just to bolster structures that already exist, but to disrupt and repair them in order to serve humanity most deeply. It’s not just about women – it’s also about children, about men, about animals, about the planet. If women are evolving, it’s for a much greater purpose than mere pay equity. It’s so we can rise up and recreate the world.
| – | Marianne Williamson, Bestselling Author, Political Activist & Spiritual Thought Leader |
It’s embarrassing that we’re still such a long way away from a world of work where women have the same opportunities as men. The Rosenzweig Report shows us how far we still have to go to break glass ceilings and clear bottlenecks in the middle.
| – | Adam Grant, Psychologist, Professor at the Wharton School of the University of Pennsylvania, and New York Times Bestselling Author of Give & Take, Originals, & Option B with Sheryl Sandberg |
I wish to commend Jay Rosenzweig for his diligence in advocating for the advancement of women’s rights. As a musician and as one who travels the world practicing my art form, I have observed that collaboration and inclusion makes for better music and for better societies. The Rosenzweig Report plays an important role in that regard, because it tells us how far we have come, while also reminding us of how much further we have to go.
| – | A.R. Rahman, Academy Award & Grammy Award Winning Artist & Humanitarian |
My corporate experience reinforced the need to have more people from different backgrounds in key decision-making roles – whether it be more women; more people of colour; more diversity in terms of age, thought or cultural background. Companies benefit when they are led by individuals with dissimilar life experiences and outlooks, ones that better represent our current global and interdependent world. In that sense The Rosenzweig Report is an important mirror reflecting the progress we have made – and how much more we must do.
| – | Claudette McGowan, Global Executive Officer, TD Bank |
Each year the Rosenzweig Report serves as an invaluable reminder that the advancement of women is proceeding incrementally at best in many C-suites and boardrooms across the nation. By aggregating and quantifying results, the Report highlights the fact that only modest gains are being made, hopefully providing a fact-based impetus for corporate Canada to move beyond more talk and get straight to more action.
| – | Kathleen Taylor, Chair of the Board, Royal Bank of Canada; Former President and Chief Executive Officer, Four Seasons Hotels and Resorts |
The inclusion of women in the workforce provides access to a tremendous talent pool of resourceful and industrious leaders. Women are leaders who will bring different perspectives and insights for better decision making in business and policy development.
| – | Nancy Southern, Chair, President & Chief Executive Officer of ATCO Ltd., & Chair & Chief Executive Officer of Canadian Utilities Limited |
It’s time for companies to realize that a corporate ladder designed entirely to suit men with stay-at-home-wives is not a ladder, it’s a strainer that will lose you a lot of great talent.
| – | Nathalie Molina Niño, Founder of Brava Investments, & Author of Leapfrog, The New Revolution for Women Entrepreneurs |
There is some encouragement to be had with more women now serving on Canadian Boards of Directors and occupying senior executive positions than previously. But the numbers remain low. It has been well-demonstrated that those companies drawing on the talents, diverse mindsets, and leadership skills of women, attain better business outcomes. The Rosenzweig Report plays a critical role in showing a realistic profile of where we stand today, and, in exposing Canadian businesses to the clear benefits of bringing women into the C-suite and onto corporate boards. To make broad, meaningful progress requires us to understand the current gaps that exist with a lack of diversity at the top of many Canadian corporations, along with the great competitive value to be had in championing progress in this area.
| – | Heather Munroe-Blum, Chair, Canada Pension Plan Investment Board; Director, RBC Financial Group; Former Principal and Vice-Chancellor, McGill University |
As a woman in the male dominated film and photography industry, I feel like I am constantly being asked to prove myself to be not just a “female” director, but a director, period. Finding allies like Jay who appreciate all artists for who they are, is a wonderful thing. For almost 20 years, Jay Rosenzweig has been fighting for gender and diversity equality. His annual Rosenzweig Report tells us, year after year, that women at the top echelon of business are not receiving equality of opportunity and equality of chance. For that relentless determination to shine a light on an important issue in society, I applaud Jay.
| – | Caitlin Cronenberg, Photographer, Filmmaker, NFT Artist, Amateur Baker and Dog Lover |
Jay is a huge advocate for women and women’s rights. It is an honour and privilege to know him. I believe the world would be a better place if more women became leaders and there were more men like Jay who recognized and supported their leadership.
| – | Candice Faktor, Co-founder, Disco |
I'm so fortunate to have had the opportunity to engage with strong, female C-suite executives early on in my career. With their mentorship, paired with exposure to some of Canada's most celebrated female corporate directors and business leaders, my professional story has evolved into one I could never have scripted. These women taught me to be bold, out front, infinitely curious, and confident to ask questions - especially when in pursuit of growth and meaningful contribution. These gifted advisors helped lay a path that would eventually lead me to exploring Web 3 with a sincere interest in how the technology may help shape the future of many sectors. I see this emerging arena as ripe for thought leadership and innovation by women and underrepresented groups. As I reflect on the important data and trends highlighted in the Rosenzweig Report, I appreciate how unique my journey has been - my story of professional female empowerment at the highest levels of leadership is not the norm. It's time to change that.
| – | Ashley Smith (aka “Bored Becky”), Board Director at B.C. Real Estate Association, Past-Chair of Real Estate Board of Greater Vancouver, Realtor, Business in Vancouver Forty Under 40, Co-Owner of Fame Lady Squad (NFT Collectibles Project), Co-Host of From The Blockchain Podcast |
As an entrepreneur and an athlete, I know the value of bringing people with diverse talents and backgrounds together in a common effort. I applaud the Rosenzweig Report for highlighting the need for businesses to hire and promote women and people of colour – the Report puts a spotlight on the need to do more.
| – | Baron Davis, Master Connector, Entrepreneur and NBA Star |
Male investors often ask why I started a fund focused on female founders. They said pigeonholing myself was a bad business decision. We are consistently proving this wrong. The data is there. Diverse teams breed success. Women raise half as much money and double the return according to a Dell study. It is refreshing to see men like Jay Rosenzweig who, like me, believes in investing in women and diversity. Jay should be commended not only for his longstanding advocacy on gender equality, years before it was in mode, but also for his personal efforts to spur change by advising so many female led businesses. Bravo! Let’s keep that momentum going. We need more men to invest in diverse teams!
| – | Jesse Draper, Founding Partner, Halogen Ventures |
Jay Rosenzweig, the inspiring chair of our Raoul Wallenberg Centre For Human Rights Board, has issued yet again his report on women in leadership, as a call to action to do more to achieve gender equity in the boardrooms of our nation and beyond. His work empowers women and puts them at the forefront not only in corporate boards, but in all walks of life, be it arts, science, the political sphere, and other decision making bodies of our nation. It serves as a reminder that equitable corporate representation of women is not only good for business – good for the economy – but empowers women in the pursuit of justice, good governance, equality – and the making of a better Canada and a better world.
| – | Irwin Cotler, Founder and Chair of the Raoul Wallenberg Centre for Human Rights, Emeritus Professor of Law at McGill University, Former Minister of Justice & Attorney General of Canada, & International Human Rights Lawyer |
Beyond political will, it takes moral and conscious will to make gender equality a tangible change in every company. Thanks to the important work of the Rosenzweig Report, all those who care about gender equality will keep at it until real change is felt.
| – | Zainab Salbi, Founder of Women for Women International, Author of Freedom is an Inside Job, Host of Yahoo News Through Her Eyes |
COVID-19 has created the perfect storm that brought many of the injustices in society to the forefront, such as the destructive forces of gender inequality and prejudice. Women, especially women of colour, have felt the brunt harder than others. The Rosenzweig Report holds a mirror up to the corporate world and we should face reality, create a more inclusive and just society as we move to economic recovery in the post-pandemic world.
| – | Armughan Ahmad, KPMG’s President and Managing Partner of Digital, and the Co-Founder of CILAR, the Coalition of Innovation Leaders Against Racism |
I grew up a tin shack in Jamaica and ultimately found great opportunities in Canada to thrive. It was never easy, but I was one of those fortunate enough to succeed through much hard work and perseverance. I feel a sense of responsibility to pay it forward and break down systemic barriers in the Black community, so that my success on Bay Street is not one of the exceptions. This requires deep systemic change. I live in one of Toronto’s exclusive neighbourhoods with my wife, who is white, and our five kids. After all my successes, neighbours still mistake me for the security guard or my wife’s personal trainer. My children also experience unacceptable prejudicial bias. Whoever says there are not systemic racist problems in Canada is ignorant to the truth. Jay Rosenzweig isn’t one of those people. For two decades, Jay has been on the frontlines fighting for justice and equality throughout society from top to bottom, including through his annual Rosenzweig Report, and he’s been a valuable addition to the board of the BlackNorth Initiative.
| – | Wes Hall, Executive Chair and Founder of Kingsdale Advisors and Founder of the BlackNorth Initiative, a Not-for-Profit Enterprise Under the Umbrella of the Canadian Council of Business Leaders Against Anti-Black Systemic Racism that is on a Mission to End Systemic Racism by Utilizing a Business-First Mindset |
As a Black Muslim woman, I have a deep understanding of the effects of anti-Black racism. Today, we are faced with the collision of two global pandemics that have ravaged marginalized communities. We must continue to keep this conversation in our consciousness but follow through with tangible action. This awakening must go from a moment to a movement. This must be sustainable to ensure the eradication of anti-Black systemic racism. Jay Rosenzweig is working diligently in the fight for equity, justice, and fairness. Jay, on our BlackNorth board, is the epitome of active allyship and continues to showcase the importance of unity.
| – | Dahabo Ahmed-Omer, Executive Director – BlackNorth Initiative |
Having relatable role models is part of the empowerment equation for young women. The Rosenzweig Report does an excellent job highlighting progress being made, and yet much more needs to be done. Telling stories of successful women and the organizations that empower them not only inspires the next generation, but it also reminds companies and boards what it looks like when gender diversity is prioritized.
| – | Kat Cole, President, COO, and Board of Directors at Athletic Greens |
As head of Nike’s Global Digital Marketing team during the Emmy-winning ‘Dream Crazy’ campaign featuring Colin Kaepernick, I was proud how that campaign reverberated through society and challenged norms. For almost two decades, Jay Rosenzweig has been challenging norms with his annual publication of The Rosenzweig Report. Jay is a diversity pioneer, not only for gender, but also for all communities facing discrimination, including black, indigenous and people of colour.
| – | Swan Sit, a New York-based Uber Digital Marketing Strategy Consultant and Independent Corporate Director |
I believe gratitude goes far and we should work in common cause with those who support us and the issues we support. With that in mind, that’s why I’m grateful for all the work Jay Rosenzweig has done for gender equality over the past two decades. In our exciting new world of Web3 and NFTs, there are glimmers of hope in the struggle for equality, but the ‘traditional world’ definitely lags behind and we need allies like Jay.
| – | Nicole Behnam, Media Personality, Community Builder, Connector and Founder, CEO, and Editor-In-Chief of Beyond the Interview |
Investing in education is not about getting an immediate ROI, it’s about touching the future beyond the horizon we can see. Great educators plant the seeds for towering trees that will stretch and shade generations into the future. Jay Rosenzweig, in his own way, is an educator bridging business and social equality. Seventeen years ago, Jay saw beyond the horizon. He’s been educating business, governments and society about the positive impact women business leaders can make not only with their corporations, but with our world.
| – | Drue Kataoka, Globally Renowned Artist, Technologist & Activist; Founder of Drue Kataoka Art Studios, The Leading Full Stack Fine Arts Studio in Silicon Valley Serving Top Collectors in Over 30 Countries |
Though Jay Rosenzweig’s business is about recognizing and finding talent, his calling is about fairness and social justice. For almost two decades, Jay has been promoting gender equality and diversity in the corporate world. I believe Jay has opened many windows of opportunity for women; from recognizing their talent to helping them grow into leaders in business and society.
| – | Leah Lamarr, Comedian, Actress and Podcast Host |
We’ve all made mistakes; some, like me, much more serious than others. As a society, we’ve made the mistake of stifling diversity and inclusion for far too long, but that doesn’t have to be the end of the story. We can and we will do better. It is encouraging to see The Rosenzweig Report and the determination to keep at it for almost two decades. Change, especially necessary change, is not necessarily easy. Keep at it, Jay, and don’t give up!
| – | Shaka Senghor, Writer, Entrepreneur, Leading Voice in Criminal Justice Reform, and President of Shaka Senghor Inc. As an Angry Young Drug Dealer on the Streets of Detroit, Shaka Shot and Killed a Man. Convicted of Second-Degree Murder, he Spent 19 Years in Prison, Seven in Solitary Confinement. That Could Have Been the End of the Story, but Instead, it Was the Beginning of a Years-Long Journey to Redemption and Inspiration |
As a woman born into a generation whose mothers wore boned girdles while our older sisters burned their bras, I grew up with the false belief that opportunities would abound. I applaud the progress made to date, but this year’s report shows just how far we still need to go. And not just to gain access to the C-suite, but to those basic needs that insure survival. Gender-based discrimination is one of the most ubiquitous forms of discrimination that children face. We must work harder to provide girls around the globe with what they need to move up whichever ladder they choose.
| – | Caryl M Stern, Executive Director, Walton Family Foundation |
As an artist, film and television creator, and founder of a production label I have the privilege of a unique perspective: that of a creator and that of a founder, entrepreneur, and business woman. The Entertainment Industry has made leaps and bounds in the past few years to rectify the injustice of the societal inequities of our past not only to females but to people of color and members of the LGBTQ community. To fix the inequities of the global distribution markets though is not an overnight job. As a creative the argument for more female voices seems an obvious one. We are over half of the world's population, the world's stories, the world's heroes. As a business woman though I recognize that it takes efforts like that of the Rosenzweig Report to continue to shine a light on the buying and selling power of female talent, female leaders, female executives so that financiers, distributors, and studios can understand how all this femine power translates into numbers. Distributors and Financiers need market feedback to enable them to increase investments in any director, talent, or producer no matter their gender so the more we can provide numbers that prove that there is a market for female voices, talent, and leadership the easier it is for traditional capital to back our creative. This is our time. The Entertainment Industry needs more female talent. The more of us that take a swing at making a dent in the marketplace the more seats there will be at the table and the more data there will be to support what we already know to be true: that this year is the rise of the divine femine and her voice will be heard. Thank you Rosenzweig report for shining a light on the numbers!
| – | Adhrucia Apana, Artist, Artist, Film & Television Creator, Founder Curiosity Entertainment, GP Curiosity Media Finance |
I got the sense of empowerment from my grandmother, Olga, a strong and resilient woman who left the dictatorial oppression of Haiti to start a new life in America more than 50 years ago. Abandoned by her husband, Olga was all about family. She put one of her sons through Cornell, and another two sons through Syracuse. My mother, Jacqueline, was also headed to college thanks to Olga but she elected instead to start a family. Though Olga and Jacqueline were my strongest female role models, especially when it came to teaching me cooking skills for my life’s work, I was fortunate to have others, like aunts and family friends, too. I know many young women have not been as lucky as me when it comes to strong women close by blazing trails for them. Which makes me thankful that Jay Rosenzweig has diligently been publishing the annual Rosenzweig Report, which highlights and educates us further about the ongoing struggle for women in business and the importance of keeping these issues at the forefront. Jay has been a big supporter of mine and countless other women over the years.
| – | Manouschka Guerrier, Private Chef to the Stars |
At all times, but especially as we come out of this pandemic, entrepreneurs and business leaders must be flexible, empathetic and creative to the needs of employees. Today, more than ever, personal and business are intertwined in all of us. The old expectation of leaving personal at the door when you go to work simply can’t exist anymore. Employees, especially women, have so many things on their plates, like childcare, eldercare, family scheduling and more, that are impossible for them to forget just because they’re at work. Employers must constantly be thinking about this and focusing on employees and implementing things within the company that support employees’ mental health. As the world shifts to returning to the workplace, one idea could be something as simple as providing an area where employees’ children can come after school to play and do homework while Mom or Dad are at work. These sorts of things will encourage the best people to be on your team and stay on your team. If one approach doesn’t work, try something else. Failure is not the opposite of success; it is part of success. For years, the Rosenzweig Report has been encouraging open-mindedness, innovation and flexibility. And, in a post-pandemic world, these are the kinds of things that will give business leaders a competitive edge.
| – | Emily Lyons, Founder and CEO of Femme Fatale Media Group and an Entrepreneur who Launched Five Successful Online Businesses Before the Age of 35 |
We need more female entrepreneurs and executives to be role models. To show other women, that if they can do this, so can you. Women control 80% of consumer purchasing power but women do not make up 80% of boardrooms. The Rosenzweig Report reminds us of the work we still need to do.
| – | Michele Romanow, Serial Entrepreneur, Co-Founder Clearco, Dragon on Dragons’ Den |
I rely on the Rosenzweig Report for key metrics and an annual reminder for how much productivity we can unlock by empowering women in business.
| – | Tina Lee, CEO T&T Supermarkets Inc. |
The Rosenzweig Report provides a good reminder about how much still needs to be done to achieve true gender equality in the workplace. Diversity at all levels of the organization is critical to enable and drive business success. That’s why we are committed to accelerating the advancement of women at Manulife, and to embedding diversity and inclusiveness in our culture.
| – | Roy Gori, President & Chief Executive Officer, Manulife |
We must continue to push for progress until women everywhere have equal opportunities to advance their careers, from being hired and promoted to having access to mentors and sponsors who lift them up. The results of Jay Rosenzweig’s work are important; they are a reminder that as a society, we need to do better – and I am hopeful we will.
| – | Marianne Harrison, President & CEO, John Hancock |
It’s time to really double down on our efforts to support the advancement of women entrepreneurs, women in leadership roles and women decision makers. I’m excited by the prospects of working with female CEOs both here in Canada and the United States on what we can collectively do to make a difference and move the bar. Jay’s report will keep us honest. It will take significant effort, changes and commitment from both male and female leaders and CEOs to create a world where both our daughters and sons will have an equal chance at significant leadership positions. I’m up for that challenge.
| – | Dawn Farrell, Director Canadian Natural Resources; Chancellor, Mount Royal University; Former President & Chief Executive Officer of TransAlta Corp. |
Creating greater gender balance in leadership positions is not only important for our economy, but it leads to more innovative decision making and improved performance. To effect real change, we need men and women working together, leaning in and taking accountability to champion gender parity. It’s not a women’s issue, it’s a business imperative, and we all have a role to play.
| – | Victor G. Dodig, President & CEO of CIBC |
The global drivers that are reshaping economies, societies and politics are remarkable and without precedent. Through this, diversity is emerging as a key plank of global competitiveness. We aim to lead by example when it comes to advancing talented women to leadership roles — and have been unwavering in our commitment to doing so. We will continue to push for change beyond BMO and celebrate the individuals and corporations that have demonstrated exceptional and visible leadership in the advancement of women, with the goal of inspiring and mobilizing more champions.
| – | Darryl White, CEO, BMO Financial Group |
After a recent event where I shared the ups and downs of my career journey with an audience of young professional women, I received the following message, “To see a woman who is also a visible minority as our CFO sharing a story of success made me feel so emotional. You represent everything I hope to become.” The hope embodied in this message underscores the importance of representation and how critical it is for young women to actually see their career aspirations lived out so they, too, can reach for what is possible. But hopes and aspirations need to be met with opportunity. The Rosenzweig Report shows us we still have so much to do in creating equal opportunity for women in our most senior ranks.
| – | Theresa Jang, Executive Vice President & Chief Financial Officer, Stantec Inc. |
The Rosenzweig Report is an invaluable beacon that shines a light on the lack of parity, equity, and diversity for women in business. As one of the few Black female Venture Capitalists, I know all too well the challenges women face when raising capital to further the growth of their businesses- especially women of color. I feel fortunate to have the opportunity to impact change for Female Founders. When I began, I did not see myself represented in this industry. My foray into venture capital was fortuitous and that should not be the case.
In the Rosenzweig Report’s 17th year, the message remains the same; we must do better. It is my hope that we are not only cognizant of this data, but also use it as a catalyst to inspire action and effect change.
| – | Abyah Wynn, Co-Founder and Fund Manager, TRUE Culture Fund |
Canada continues to rise as a global force in empowering women, thanks to the initiative of its incredible country leaders including Jay Rosenzweig. At Mogul, one of the largest female millennial platforms worldwide, we are proud to collaborate with Jay Rosenzweig in all ways possible, as he continues to help advance the state of women worldwide.
| – | Tiffany Pham, Founder & CEO, Mogul |
Purpose driven leaders are what drive change, they surrender themselves to causes that are greater than them and give without expecting anything in return. Jay is one of those leaders, using all of his skills, time, energy and resource to drive a positive change in our planet. He understands that societies thrive better, and enjoy peace and prosperity when women step up in leadership, and that is the purpose of the Rosenzweig Report. Women are great leaders across all the fields, and those who do not step up to encourage women to lead must be held to account. Women get the work done. Any society that suppresses women will not ultimately progress. We live in a world where time is money but when it comes to Jay, time is more valuable than money and he creates time to make everyone feel valid and important. That is how he is able to rally so many disparate voices together for the cause of justice and equality. He knows that relationships, family, friends and colleagues are worth more than dollars. Jay will create time to give you a voice and listen to you without judgement, thus creating a positive foundation to create positive and lasting change for the rights of women and girls globally, for humanity and our planet.
| – | Emmanuel Jal, Former Child Soldier, International Recording Artist, Activist & Philanthropist |
As my personal mentor Oprah Winfrey says, it is important to turn struggles into strength. Women struggle on many fronts, including in the business world. The Rosenzweig Report serves a vital role by charting women’s ability to advance to senior positions in business and serves as an inspiration to do better.
| – | Mpumi Nobiva, International Humanitarian & Speaker; Board Director of the Oprah Winfrey Leadership Academy for girls in South Africa |
Table of Contents
ROSENZWEIG
The Possibilities of a New Generation
THE 2022 ROSENZWEIG REPORT
The Numbers
WOMENS REPORT 2022
APPENDIX ONE
Female Names Executive Officers (NEOs) from the Top 100 Publicly-Traded Canadian Corporations (Ranked by Revenue)
APPENDIX TWO
Methodology
Rosenzweig:
The Possibilities of a New Generation
“Stop telling girls they can be anything they want when they grow up. I think it’s a mistake. Not because they can’t, but because it would have never occurred to them that they couldn’t.”
| – | Sarah Silverman, comedian, actress, and writer. |
When we began this work in 2006, the world was a very different place.
Economic excesses had not yet led to the Great Recession. An African American had not been elected President of the United States. There was no #MeToo movement. And it was all but unthinkable that a sovereign nation would be invaded by another in the heart of Europe.
And of course, there has been the relentless march of technological advancement.
Web2 was in its infancy. Today, we are early into Web3.
Web 1.0 was the beginning of the Internet, with companies like Amazon and eBay emerging from that era. Web2 refers to an online world driven by companies like Facebook and Google which provide services in exchange for personal data.
Web3 refers to the next iteration of Web, based on blockchain technology and built upon the core concepts of decentralization, openness, and greater user utility – it offers users greater control over their own personal data and the content they create. Web3 has the potential to bring more equity to the world, including gender equality, diversity, and equal opportunity for all. It removes many of the limits imposed by today’s traditional top-down leadership structures by facilitating member-owned communities without centralized leadership such as DAO’s (Decentralized Autonomous Organizations).
Years ago, we vowed to keep publishing this report and educating business and government until we reached a tipping point and something approaching equality was achieved.
Are we there yet? Unfortunately, the answer is no.
But over the next decade, as Web3 changes society, we are cautiously optimistic that powerful forces for change will make publishing The Rosenzweig Report unnecessary.
In addition to DAOs, NFTs (Non-fungible tokens) are an important aspect of Web3. NFTs & DAOs are currently male dominated, but many women are working diligently to change that paradigm; both within the Web3 world and beyond.
Boss Beauties, an NFT project founded by Lisa Mayer, is a shining example of progressive advocacy when it comes to women’s rights and the advancement of women. What’s more, it is an inspiring display of creativity, artistic zeal and Web3 trailblazing.
We are honored to have Boss Beauties collaborating with us this year on our report by gracing our cover with a breathtaking piece of art. Evoking the phrase “a picture paints a thousand words,” this cover art symbolizes strength, a sense of pride in being a woman, in being a person of colour, a mother, and a business leader. It is a depiction of a proud human being who is confident and comfortable being the complete individual that they are, and not some unidimensional businessperson. This is the leader of the future. Thank you, Lisa, for providing us with your enchanting vision of what lays ahead!
“NFTs allow us to build on our women-powered foundation and mission, expanding our reach to magnify our impact in supporting women and girls globally,” Lisa tweets. “Whether you work in finance, marketing, entertainment, the arts, fashion, music, sports, or any other sector, I assure you that understanding what NFTs are and the various ways they’re being utilized is going to soon become necessary.”
Another example of leveraging Web3 for good is activist Nadya Tolokonnikova, co-founder of Pussy Riot. Nadya, along with Trippy Labs and members of PleasrDAO, is selling NFTs of Ukraine’s flag to raise money for Ukrainians in response to Russia’s military invasion. Through a newly formed digital entity known as UkraineDAO, they have reportedly raised over seven million dollars for those in need in Ukraine.
In addition to Lisa and Nadya, we are inspired by so many amazing women trailblazing in the world of Web3, including: Yam Karkai (World of Women), 13-year-old Nyla Hayes (Long Neckie Ladies), Maliha Abidi (Women Rise), Caitlin Cronenberg (Feet & Eyes Guys plus her outstanding photography), Swan Sit, Ashley Smith AKA Bored Becky (Fame Lady Squad), Betty (Deadfellaz), Randi Zuckerberg, Reese Witherspoon, Paris Hilton, Nicole Behnam, and Manouschka Guerrier. Thank you to many of these amazing women for contributing to this year’s report.
As for gender equality and our annual report, unfortunately we have not seen the rapid positive change we had hoped for over the last decade and more.
There is some good news: the number of women in corporate leadership roles has approximately doubled over the past 17 years. But unfortunately we began from a very low base. Today the total number of women leaders is still under 10 per cent. So, yes, the numbers are higher, but they do not even begin to approach equality.
We had hoped public education and the risk of legislation would push us closer. We watched Canadian Prime Minister Justin Trudeau operate with a gender-level cabinet since 2015, hoping his example would spur business to do likewise. We witnessed Kamala Harris become the first female and the first person of South Asian and African American heritage get elected Vice President. All these advances point to more inclusiveness, more gender equality.
But numbers don’t lie, as we found out again this year. Of the 525 business leaders at Canada’s largest publicly traded companies, a mere 50 are women. When we started in 2006, there were only 23 women in these leadership positions. Of those 23 initial women, only three remain on the list. They are Nancy Southern (Atco’s CEO), and Marion Britton and Maureen Kelly (both Russel Metals).
To be sure, there have been notable positive developments on the diversity and inclusion front over the past 12 months.
In Canada, Her Excellency The Right Honourable Mary Simon became the first indigenous individual to be named Head of State. This represented a significant milestone on the path to reconciliation with Canada’s founding peoples.
In the U.S., President Joe Biden nominated Ketanji Brown Jackson, the first female African-American to the Supreme Court. If confirmed, Jackson will be the third Black justice in U.S. history, after civil rights hero Thurgood Marshall (1967-1991) and Clarence Thomas, the conservative jurist who has been on the bench since 1991.
Professor Nancy Maveety, a Supreme Court expert and chair of the Political Science Department at Tulane University in New Orleans, underlined the great significance of Jackson’s nomination. “It represents an appointment breaking another barrier based on race and gender, further diversifying the High Bench so that it ‘looks like America’,” said Maveety, author of Picking Judges, a book about the screening and choosing of judicial nominees and the confirmation process.
The sports world recently produced positive gender news, too. In February 2022, after six years of legal tussles, the U.S. women's national soccer team reached a $24 million equal-pay settlement with the U.S. Soccer Federation. The federation also committed to equalizing future pay for women.
And in business, the NASDAQ stock market index announced in August 2021 a requirement for all listed companies to have at least two diverse directors on their boards, including one who self-identifies as female and one who self-identifies as an underrepresented minority.
Marci Ien, Canada’s Minister for Women and Gender Equality and Youth is also spearheading the Women Entrepreneurship Ecosystem Fund, one of the initiatives of the multibillion-dollar Women Entrepreneurship Strategy (WES). To date, the WES Ecosystem Fund has invested $100 million in 52 projects that are helping close service gaps in the entrepreneurial ecosystem for women, particularly in areas such as mentorship, networking, and skills development. From 2020 to 2021, the Ecosystem Fund has helped over 5,000 women start a new business and over 7,000 women grow their existing businesses.
In other important developments, a woman became the new CEO of a major player in a traditional male-dominated industry – railways. Tracy Robinson, a former executive at Canadian Pacific Railway, became President and CEO of Canadian National Railway on February 22, 2022.
In another positive development, Laurentian Bank, now has Canada’s first female CEO of a Canadian chartered bank. Rania Llewellyn was born in Kuwait and immigrated to Canada in 1992. After a 26-year career at Scotiabank, where she started as a teller before moving up to a series of managerial and executive roles, Llewellyn took the reins of the Montreal-based bank just over a year ago.
We continue to closely monitor the status of BIPOC women in named positions. The number is difficult to track exactly – it requires self-identification by the executives which is not always available – but it is clear that the number of BIPOC women is much smaller than the already small pool of women in these top roles. We are working to change that.
Organizations such as the Black Opportunity Fund, Black Innovation Programs, and the BlackNorth Initiative (BNI), are making a difference in the struggle to end racial injustice and facilitate economic empowerment for those who have been historically disadvantaged. At BNI, where I currently sit as a board member, initial signs of progress include: getting hundreds of companies to sign a pledge to do better in terms of Black executives amongst their leadership ranks; investing alongside government partners in affordable housing programs; and investing alongside corporate partners in mentorship programs in the schools.
Though the diversity and inclusion numbers in leadership roles continue to be unacceptably low, we move forward with guarded optimism. We believe the various points of light will combine to show us the way to a more equitable and inclusive business environment – and a better society for us all.
Thank you again to all the amazing contributors to this year’s report. It truly takes a massive team effort to get this done every year and I am deeply grateful for everyone’s dedication.
Jay Rosenzweig
Managing Partner
Rosenzweig & Company
The 2022 Rosenzweig Report
The Numbers
The Rosenzweig Report looks at the top 100 largest publicly-traded corporations in Canada, based on revenue, and examines how many of the top leadership roles are held by women as per public, corporate filings in 2021.
This year’s research revealed 50 female Named Executive Officers (NEOs) at Canada’s 100 largest publicly-traded corporations. NEOs are the Chief Executive Officers (CEOs), Chief Financial Officers (CFOs), and other top paid C-level executives named in a corporation’s management circulars. They are typically the most influential executives running a corporation – in short, the leaders.
Figure 1 displays the number of year-over-year observations by a percentage of female NEO inclusion. Of the 525 executives, 50 are women, and 475 are men. This year’s statistics indicate that female participation is at 9.52%, down marginally from 9.76% last year, which marked the highwater mark for female participation in the 17 years we have been conducting the study.
Figure 1. Year-over-year observations by percentage of female NEO inclusion in Canada’s top 100 publicly-traded corporations by revenue.
Other highlights of this year’s report:
Lululemon Athletica led all companies with four female NEOs, up from three last year.
CAE Inc., an advanced aerospace technology firm, remains notable for having two NEOs in a sector where women have not previously been common.
Approximately 6 of the 50 female NEOs are BIPOC (exact numbers are difficult to ascertain as not everyone self-identifies).
Of 50 female NEOs, three are CEOs.
Canada’s Big Five banks (RBC, TD, Scotiabank, BMO, and CIBC) have only two women amongst their total of 25 NEO positions.
The largest corporation with a female NEO continues to be Manulife Financial Corp.
Figure 2. Breakdown of female NEOs in Canada’s top 100 publicly-traded corporations by revenue.
The largest representation of female-held NEO positions is found in the third (17) and fourth (16) quartiles of corporations. There are only eight female NEOs in the first quartile and nine in the second.
At 12, the finance function, including CFO and one SVP Finance, is the most commonly held C-suite title by female NEOs. Other titles include COO, CAO, Divisional Head, Human Resources, Marketing, Merchandising, Corporate or Commercial Development, Sustainability, General Counsel, and three CEOs.
As noted above, as small as the population of women in top positions is, the numbers are worse when it comes to BIPOC. Only about six of the 50 women NEOs are BIPOC, and only one of them appears to be in the top 50 (Michelle Sun Choe of Lululemon).
| NEW TO THE LIST |
| COMPANY | NAME | TITLE |
| iA Financial Corp. Inc. | Renee Laflamme | EVP Individual Insurance Saving & Retirement |
| AltaGas Ltd. | Corine Bushfield | EVP & CAO |
| Stantec Inc. | Cath Schefer | EVP & COO |
| GFL Environmental Inc. | Mindy Gilbert | EVP &General Counsel |
| GFL Environmental Inc. | Elizabeth Joy Grahek | EVP, Strategic Initiatives |
| CAE Inc. | Heidi Wood | President CAE Healthcare & EVP |
| Kirkland Lake Gold Inc. | Natasha Vaz | COO |
| Kirkland Lake Gold Inc. | Jennifer Wagner | EVP Corporate Affairs |
| Keyera Corp. | Eileen Marikar | SVP & CFO |
| Transcontinental Inc. | Christine Desaulniers | Chief Legal Officer & Corporate Secretary |
| Arc Resources | Larissa Conrad | Senior Vice President, Development |
| TransAlta Corp. | Kerry O’Reilly Wilks | EVP Legal Commercial & External Affairs |
| Lululemon | Nicole Neuburger | Chief Brand Officer |
| Lululemon | Meghan Frank | Chief Financial Officer |
| NO LONGER ON THE LIST |
| COMPANY | NAME | TITLE |
| AltaGas Ltd. | Luanne Gutermuth | EVP & CAO |
| The Co-operators Group Ltd. | Emmie Fukuchi | EVP & Chief Digital & Marketing Officer |
| CAE Inc. | Rekha Ranganathan | President CAE Healthcare |
| TransAlta Corp. | Dawn De Lima | Chief Shared Services |
| Restaurant Brands International | Jill Granat | General Counsel |
| Canadian National Railway | Dorothea Klein | SVP & CHRO |
| Tervita | Linda Dietsche | CFO |
| Tervita | Darilyn Landfried | VP Marketing |
| Lululemon | Julie Averill | Executive Vice President, Chief Technology Officer |
Appendix One:
Female Named Executive Officers (NEOs) from the Top 100 Publicly-Traded
Canadian Corporations (Ranked by Revenue)
Note – The numbering in the table below reflects the ranking of the company on the list of the top 100 publicly-traded Canadian corporations (by revenue).
| FEMALE NEOS IN THE TOP 100 PUBLIC COMPANIES |
| RANK | COMPANY | FEMALE - TITLE |
| 2 | Manulife Financial Corp. | Marianne Harrison – President & CEO John Hancock |
| 6 | George Weston | Sarah R. Davis - President of Loblaw |
| 7 | The Toronto-Dominion Bank | Teri Currie – Group Head, Canadian Personal Banking |
| 15 | Fairfax Financial Holdings Ltd. | Jennifer Allen – VP & CFO |
| 16 | CIBC | Laura Dottori-Attanasio – Group Head, Personal & Business Banking |
| 18 | Mouvement des caisses Desjardins (Desjardins Group) | Marie-Claude Boisvert – EVP, Business Services |
| 20 | Imperial Oil Ltd. | Theresa B. Redburn – SVP Commercial & Corporate Development |
| 22 | iA Financial Corp. Inc. | Renee Laflamme – EVP Individual Insurance Saving & Retirement |
| 24 | Barrick Gold Corp. | Catherine P. Raw – Promoted from EVP to COO |
| 36 | Bausch Health Companies Inc. | Christina M. Ackermann – EVP & General Counsel |
| 37 | Fortis Inc. | Jocelyn H. Perry – EVP & CFO |
| 37 | Fortis Inc. | Nora M. Duke – EVP, Sustainability & CHRO |
| 40 | Teck Resources Ltd. | Marcia M. Smith – SVP, Sustainability & Environmental Affairs |
| 43 | Waste Connections, Inc. | Mary Anne Whitney – SVP & CFO |
| 44 | Hydro One Ltd. | Saylor Millitz-Lee – CHRO |
| 50 | Lululemon | Celeste Burgoyn – President, Americas and Global Guest Innovation |
| 50 | Lululemon | Michelle Choe – Chief Product Officer |
| 50 | Lululemon | Meghan Frank – Chief Financial Officer |
| 51 | Air Canada | Lucie Guillemette – EVP & Chief Commercial Officer |
| 52 | Linamar Corp. | Linda Hasenfratz – CEO |
| 53 | Kinross Gold Corp. | Andrea S. Freeborough – SVP & CFO |
| 54 | AltaGas Ltd. | Corine Bushfield – EVP & CAO |
| 55 | Emera Incorporated | Nancy Tower – President and CEO, Tampa Electric Company |
| 57 | The Co-operators Group Ltd. | Karen Higgins – EVP, Finance & CFO |
| 57 | The Co-operators Group Ltd. | Carol Poulsen – EVP & CIO |
| 59 | CCL Industries Inc. | Lalitha Vaidyanathan – SVP, Finance, IT, & HR |
| 63 | Stantec | Theresa Jang – EVP & CFO |
| 63 | Stantec | Cath Schefer – EVP & COO |
| 64 | Quebecor Inc. | France Lauziere – President & CEO TVA, and Chief of Content,Quebecor Content |
| 65 | Maple Leaf Foods Inc. | Debbie Simpson – CFO |
| 65 | Maple Leaf Foods Inc. | Suzanne Hathaway – SVP & General Counsel |
| 67 | GFL Environmental Inc. | Mindy Gilbert – EVP & General Counsel |
| 67 | GFL Environmental Inc. | Elizabeth Joy Grahek – EVP, Strategic Initiatives |
| 68 | Open Text Corp. | Madhu Ranganathan – EVP & CFO |
| 70 | Dollarama Inc. | Johanne Choiniere – COO |
| 71 | ATCO Ltd. | Nancy C. Southern – CEO and Chair, ATCO & Executive Chair, Canadian Utilities |
| 73 | Colliers International Group Inc. | Rebecca Finley – SVP, Brand & People Officer |
| 76 | CAE Inc. | Sonya Branco – EVP & CFO |
| 76 | CAE Inc. | Heidi Wood – President CAE Healthcare & EVP |
| 77 | Methanex Corp. | Vanessa James – SVP, Global Marketing & Logistics |
| 80 | AutoCanada Inc. | Tamara Darvish – President, US |
| 83 | Kirkland Lake Gold Inc. | Natasha Vaz – COO |
| 83 | Kirkland Lake Gold Inc. | Jennifer Wagner – EVP Corporate Affairs |
| 84 | Keyera Corp. | Nancy Brennan – SVP Sustainability, External Affairs and General Counsel |
| 84 | Keyera Corp. | Eileen Marikar – SVP & CFO |
| 85 | Just Energy Group Inc. | Rebecca Macdonald – Executive Chair |
| 87 | Russel Metals Inc. | Marion E. Britton – EVP, CFO & Secretary |
| 87 | Russel Metals Inc. | Maureen A. Kelly – VP, Information Systems |
| 89 | Transcontinental Inc. | Christine Desaulniers – Chief Legal Officer & Corporate Secretary |
| 90 | Arc Resources | Larissa Conrad – Senior Vice President, Development |
| 93 | Superior Plus Corp. | Beth Summers – EVP & CFO |
| 97 | TransAlta Corp. | Dawn L. Farrell – President & CEO |
| 97 | TransAlta Corp. | Kerry O'Reilly Wilks – EVP Legal Commercial & External Affairs |
Appendix Two:
Methodology
The Rosenzweig Report identifies female and male Named Executive Officers (NEOs) that work in the top 100 Canadian Public Corporations. The bulk of the top 100 Canadian Public Corporation’s data is retrieved from the Financial Post’s 2021 list of Canada’s 500 Largest Corporations by Revenue (FP500), as well as the corporation’s most recent public documents posted to SEDAR at the time of our research.
SEDAR, the System for Electronic Document and Retrieval, contains documentation of names and compensation levels of the top five executives or Named Executive Officers from every TSX-listed company. By law, each TSX-listed corporation must supply this information as public records.
Within the sampling frame of all 100 Top Corporations, 79 listed data for the top five NEOs, 19 listed data for the top six NEOs, two listed data for the top seven NEOs. None of the corporations listed more than seven NEOs.
The study involved several steps, including:
Reviewing the list mentioned above to compile a list of Canada’s largest 100 publicly-traded companies according to revenue.
Researching the highest-paid executive officers, based on annual salary and bonus, from each of the companies on the list. The data was taken from the most recent Management Information Circulars, filed with the Canadian Securities Administrators (CSA) directly by each company and available on the SEDAR website (www.sedar.com).
All compensation tables from Management Information Circulars were reviewed with the intention of identifying all female executives. Additional research included the use of public and proprietary databases.
Note – Ontario Securities Commission rules require the Chief Executive Officer, Chief Financial Officer, and three other most highly compensated executive officers of public companies to disclose their compensation on an individual basis. For these filings, compensations are based strictly on the annual base and bonus components allocated to these executives. Although additional compensation, such as equity through stock options and/or pension benefits, was provided by some companies, this data is not included for the above purposes.
Note – the study does not include highly-paid executives working on a contractual basis or individuals not designated as officers of a company (taken from the SEDAR website).
For this report, the term ‘Canadian public company’ is defined as any company with an executive head office in Canada (where the CEO and other executive’s offices are located) that lists its shares on an exchange (TSX, TSX-V, etc.) and files with SEDAR and the Ontario Securities Commission. The Co-operators General Insurance Co. is a co-operative and therefore does not list its shares on an exchange but were included on the list due to their large size and the fact that they file with SEDAR.
