Power Corporation of Canada | Women managers: promotions and advancement at Power Corporation of Canada

Status
9.05% votes in favour
AGM date
Previous AGM date
Proposal number
2
Resolution details
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
Energy
Company HQ country
Canada
Resolved clause
It is proposed that the Corporation publish annually, in a form it considers suitable, 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, go part-time or simply been 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[1], 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. There are measures to “help women lessen the career and financial impacts of unpaid parental leave and part-time work,”[2] as women are still more likely than men to find themselves in such employment situations, which are barriers that hinder their advancement. Companies cannot risk losing more women in management positions. The report we are proposing will take stock of the situation at these different levels, encourage senior management to set gender-diversity targets for each level and inform all stakeholders of the strategies that will be put in place to ensure a robust recovery, particularly in the wake of the health crisis.

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