Canadian Imperial Bank of Commerce | Women managers: promotions and advancement at Canadian Imperial Bank of Commerce

Status
Withdrawn
AGM date
Previous AGM date
Resolution details
Company ticker
CM:CN
Resolution ask
Report on or disclose
ESG theme
  • Social
  • Governance
ESG sub-theme
  • Diversity, equity & inclusion (DEI)
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
It is proposed that the Bank annually publish, in a form to be determined by the Bank, a report on the representation of women in its management, from entry level to top level, reporting directly to the President.
Supporting statement
The pandemic has completely disrupted our economy and workplaces. Women have been hit particularly hard, with millions having to leave their jobs or go part-time or simply being laid off, due to the nature of their work or the economic sector in which they worked. As a result, companies now have far fewer women in management or on the road to becoming future managers. This development will only exacerbate an existing situation. According to a survey conducted by McKinsey, while women accounted for 50% of entry-level employees in the organizations surveyed, they accounted for only 31% of vice-presidents and 14% of CEOs, as the following graph illustrates. Different measures exist to “mitigate the image of unpaid parental leave and part time employment on the career and income of female employees” women being today still more likely than men to experience such professional situations, which are obstacles t their advancement. Business cannot risk losing more women in management positions. This report would provide a picture of the situation in the different levels, encourage senior managers to set gender diversity targets for each level and inform all the stakeholders of the strategies that will be implemented to ensure a vigorous recovery of activities, in particular after the health crisis.

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