Canadian Imperial Bank of Commerce | Including the Younger Generations in Governing Bodies at Canadian Imperial Bank of Commerce

Status
Filed
AGM date
Previous AGM date
Proposal number
2
Resolution details
Company ticker
CM:CN
Resolution ask
Set targets or plans
ESG theme
  • Social
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's board of directors develop and make public, before the 2026 annual meeting, a plan to increase the representation of young people (35 and under) within its governing bodies.
Supporting statement
This would include, among other things, the following: • Measurable targets for the representation of younger generations on the board and its advisory committees; • Tangible mechanisms for identifying, recruiting, and supporting candidates; • An annual report on progress made and actions taken. In a global environment shaped by rapid change and complex challenges — whether economic, social, or environmental — the ability of financial institutions to anticipate and adapt depends more than ever on the diversity and complementarity of the voices involved in their decision-making processes. However, younger people remain largely underrepresented in the structures of large Canadian companies, including in the banking sector. This gap is not only a matter of fairness, but also a strategic weakness. The younger generations, through their awareness of new economic, technological, and societal realities, have a keen understanding of emerging expectations, particularly in terms of sustainable finance, digital innovation, and social transformation. Their involvement in corporate governance would enrich strategic thinking and enable better anticipation of changing behaviours, markets, and risks. Several studies show that diversity within governing bodies not only improves an organization’s performance and capacity for innovation, but also its resilience in the face of crises and its credibility with interested parties (stakeholders). By implementing a structured and transparent plan to promote the inclusion of young people in its corporate governance, the Bank would be sending a strong signal about its commitment to building an institution that is more representative, more grounded in the reality of the country, and better prepared for the challenges of tomorrow.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.