LEADERS O F C H A N G E
A NEWSLETTER SERVICE PUBLISHED BY WOMEN IN THE LEAD INC. VOLUME 2 ISSUE 1 FEBRUARY / MARCH 2008
Dare to be Different theme of leadership talk to be given
by the President of The Home Depot Canada and Asia
Annette Verschuren will share her views on leadership
in these complex times when she speaks at the second
annual special event organized by Women in the Lead
Inc. and Institute of Corporate Directors, Ottawa Chapter.
Leadership is something she understands very well. Her
career has been meteoric since she worked as a young
farm girl in her native Nova Scotia where she began as a
development officer with the Cape Breton Development
Corporation (coal mining) in Sydney. She went on to
work with Canada Investment Corporation as Executive
Vice-President privatizing various crown corporations.
Annette then joined Imasco Ltd. as Vice-President of
Corporate Development.
Prior to joining The Home Depot in 1996, Annette was
President and co-owner of Michael’s of Canada (arts and
crafts stores) from 1993-1996.
Since taking on the leadership of the Home Depot in 1996, she has overseen the rapid expansion and subsequent market leadership of the company. Most recently as President of Asia,
she led the company’s first expansion across the Pacific Ocean.
Recently, Annette Verschuren was appointed by the Prime Minister to the North American
Competitiveness Council as part of the Security & Prosperity Partnership of North America.
She also serves as the Vice Chair of the Canadian Council of Chief Executives and she is
Chancellor of Cape Breton University.
Her presentation, followed by a reception will take place in Ottawa, Tuesday, March 4,
2008 at the Rideau Club, 99 Bank Street. To register email Shirley Wang at
registration@womeninthelead.ca or register directly online at
www.womeninthelead.ca/register. Space is limited.
This event is co-sponsored by Gowlings and The Home Depot in support of the publishing of
the fourth edition of the directory Women in the Lead/ Femmes de Tête, a national, bilingual
publication and online database listing the résumés of 850 accomplished women from a broad
spectrum of Canadian business.
Alliance Partner
THE INSIDE STORY
Nicolle Forget: Getting to know you...........2
Success: How do you define it?...................3
How to submit new résumés .......................4
What do women bring to the boardroom?....5
Laval’s CAS
forms alliance with
Women in the Lead
In recognition of their complementary missions in promoting
good governance and in taking
action to increase the presence of
women on Boards of Directors,
Laval University’s Collège des
administrateurs de sociétés (CAS)
and Women in the Lead Inc. have
formed an alliance.
CAS contributes to the development and to the promotion of
good governance by offering to
administrators an education of
quality and information incorporating best practices.
As part of the agreement to give
each other various opportunities
of visibility within the context of
their activities and thus, explore
new avenues of collaboration,
CAS will offer a scholarship of
$2,950 per year, which is the fee
to enroll in the first module of
CAS’s certification program –
Roles and Responsibilities of
Board Directors. For more information http://www.ca.ulaval.ca
Wizard-of-Oz style leadership.................6,7
Exploring ICD’s Directors Register...........8
New retirement: changing our future.........8
Appointments & Awards.................9, 10, 11
Women on Board™ update........................12
This publication is made possible through the support of The Home Depot and Gowlings
as part of their commitment to the advancement of women.
Getting to know you...
Nicolle Forget, an outstanding figure
in Quebec’s history of women’s progress
The first woman nominated at the board of directors of HydroQuebec and a founding member of the Quebec Federation of
Women in 1966, Nicolle Forget currently sits of the boards of
GazMétro and Jean Coutu Group.
known as the “Girls of the Ritz”.
The association still exists today
under the name of “Friends of
Businesses”.
How did Nicolle succeed in breaking the glass ceiling?
Forerunner of Women in the
Lead
Nicolle Forget was born into a modest family which had a farm.
When she was four years old, she had an accident when a harvester crushed her leg. The rehabilitation, which lasted two
years, made her prematurely mature.
After a short career as a journalist, she obtained her Bachelor
Degree in Business Administration from HEC Montreal in 1970.
Women then represented less than 20% of graduates. Parallel to
her studies, Nicolle worked for the Council of Wellbeing of
Quebec, the ancestor of The United Way.
Nicolle also became involved in the Montreal Chamber of Commerce. In 1984, a committee called “Access 51”2 was created to
increase the number of women on boards of directors. Nicolle
chaired this committee which published a directory of résumés
of influential women wishing to serve on boards of directors.
This was similar to the current Women in the Lead/ Femmes de
Tête directory which was founded in 2000 - 16 years and three
editions later.
It was during this time she launched the Quebec Federation of
Women with Therese Casgrain1, a pioneer of women’s advancement in Quebec. The Federation had a mission to promote
equality between men and women.
Nicolle Forget describes herself as a leader who thrives in managing change. It was in this role she occupied senior management positions at the National Office of Transportation and at
the Council of Essential Services.
Nicolle also joined the Canadian Consumers Association where
she was named President of the Quebec section. Under her leadership, the section became the Quebec Consumer Association
thanks to the autonomous statute which she negotiated. Being
the President gave her a lot of visibility since she was regularly
seen on the media. The Premier of Quebec at the time, Rene
Levesque, noticed her and named her to the board of directors of
Hydro Quebec, making her the first woman director in 1978.
In the 1990s she joined the GazMétro and Group Jean Coutu
boards. She also served on the boards of several other corporations including the Fonds de solidarite des travailleurs du Quebec.
In 1977, she had returned to University of Montreal to become a
lawyer. She later obtained additional diplomas in teaching and
in bioethics from Université du Québec à Montréal.
Girls of the Ritz
Nicolle joined, at the time of its founding in 1984, a group of
rising women who occupied important positions. The objective
of this network was to promote women leadership in politics,
boards of directors and top management. As the meetings regularly took place at the Ritz-Carlton, this network became well-
A woman of many talents
Thanks to her literary talents, Nicolle has published three books
between 1995 and 2006. These include: Trusteeship at the public curator, Justine Lacoste-Beaubien and the Ste-Justine Hospital, as well as the biography of the founder of the Great Canadian Ballet, Ludmilla Chiriaeff. Currently she is working on the
biography of Therese Casgrain.
Let us hope, the woman who has played such a significant role
in the advancement of women, will see fit to write her own autobiography.
1
Thérèse Casgrain is famous for her interventions which resulted in the Civil
Code being amended in 1940 to give women voting rights and in 1954 to give
married women legal capacity.
2
since women represented 51 % of the population
Annette Dupré, who wrote this article, is Manager of Treasury and Budgets for the City of Westmount,
Quebec. She is also Secretary-Treasurer on the Pension Plan Committee, equivalent to a Board of Directors
with the recent Quebec Bill 30.
She was recently awarded a scholarship offered by Laval University’s College of Business Administration
(CAS) and selected by Financial Women’s Association of Quebec (FWA).
>>For details about Nicolle Forget and Annette Dupré’s background and accomplishments, visit
www.womeninthelead.ca/profiles.htm
2
Success: how do male and female business
owners and executives define it?
A Canadian study has examined the influence of gender and occupation on how business leaders perceive success. The study refutes several stereotypes about the ways in which men and women define success. The research team, led by Barbara Orser of the University of Ottawa Telfer School of Management and Lorraine Dyke at Carleton
University Sprott School of Business, surveyed 326 business owners
and 545 corporate executives and managers. Respondents were asked
to rate the importance of various success criteria.
The following, written by Barbara Orser, summarizes their findings.
Among the business owners, success was
associated with four underlying criteria:
market acceptance of products and services, financial criteria, a sense of professional autonomy, and work-life balance.
For example:
secondary. The relative importance business owners
Barbara Orser
Lorraine Dyke
place on commercial success
may explain why many are
was also considered. After controlling for
willing to tackle the challenges of business start-up and work long days, at con- occupation and human capital, no gender
• Market acceptance. For many small siderable financial and professional risk. differences in the importance of work/life
Corporate managers and executives were balance were cited. This observation is
business owners, success is defined
important in that it challenges a long
also asked to describe and rate various
in relational terms such as how the
success criteria. This phase of the project standing stereotype that women univerfirm, products or services are persally perceive work/life balance to be
identified additional dimensions of succeived in the marketplace and the
more important than do men. It was also
ability of the owner to maintain good cess such as working in a health workinteresting to find that business owners
relations with employees, customers place culture, maintaining workplace
did not perceive work/life balance to be
relationships and working with compeand suppliers.
more or less important than corporate
tent colleagues. When executives and
• Financial outcomes. Success was
executives and managers. This observamanagers weighed the importance of
also defined in monetary terms such
tion refutes assumptions that business
several underlying dimensions of sucas profitability and at the personalowners are motivated primarily by a decess, commercial relationships and relevel, as income and the acquisition
sire to achieve work/life balance or to
lated professional criteria were, again,
of goods such as a house, car and
most important. Hence, among both busi- earn money.
travel.
ness owners and corporate executives and Having controlled for human capital, the
• Autonomy: Being able to work inde- managers, relational criteria significantly importance accorded to professional
pendently was the third underlying
autonomy and financial success differed
outweighed financial and family-related
criterion of success. This domain
by gender and occupational role. But,
criteria.
reflected outcomes such as ability to
Several explanations are advanced. Cana- here the results are a little complicated.
make independent decisions, pursue
For example:
dian business leaders may believe that
intellectual activities, engage in comprofessional success enables personal
• the importance accorded
munity activities and a sense of wellsuccess. Alternatively, perhaps those who
“professional autonomy” differed by
being.
prioritize professional relationships are
occupation (business owner versus
• Work-life balance. A fourth underly- more likely to achieve leadership roles
executive/manager) ─ but only for
ing dimension of success reflected
compared to those that prioritize personal
women. Among the women business
managing work/life demands.
and family-related criteria.
leaders surveyed, an increase in the
importance accorded to professional
The study then examined how business
The researchers then examined how perautonomy was associated with a deowners weighed the importance of these
ceptions of success differ by gender and
creased likelihood of being emfour underlying dimension of success;
occupation (business owners compared to
ployed in the corporate setting (e.g.,
market acceptance was most important.
executives/managers). The influence of
being an executive or manager).
Financial outcomes, work/life balance
“human capital”, using measures such as
and professional autonomy were clearly
education and years of work experience,
Continued on page 4
3
You were asking…
How to submit new résumés
Women in the Lead Inc. is now in the
process of preparing a fourth edition of its
unique published directory Women in the
Lead/ Femmes de Tête and electronic
online subscriber database.
Through the establishment of these,
Women in the Lead has been able to showcase the talents of women professionals
from a broad spectrum of Canadian business. They have helped dispel the presentday misconception there are not enough
women with the necessary credentials for
corporate board appointment in Canada.
These resources, which have been developed by Women in the Lead over the past
seven years, have proven invaluable to
The current, 930-page directory lists the
nominating committees and executive
résumés and contact information of more
than 600 qualified women from a broad spec- search firms in placing women with the
trum of Canadian business. Their experience necessary experience on boards and in
and expertise recommend them as candidates senior corporate roles.
for private, public and not-for-profit boards.
The directory and online database contain
information relating to Sectors, Experience,
Education, Languages (other than English-33
represented), Community Involvement, honors and Awards. Those based in Quebec have
their résumés appearing in both English and
French.
To order the directory ($295), the online
database ($295) or both ($472) go to our
website www.womeninthelead.ca/
ordering.htm
Those Previously Listed
Those whose résumés appeared in the third
edition and who wish to be listed in the
2008 edition will be notified by email in
early March as to how to update their current entry.
Those Based in Quebec
Those based in Quebec have their résumés
appear in both English and French and are
asked to submit their information in both
languages online on
www.womeninthelead.ca. If they are unable to do so, translation services can be
made available.
Complete instructions to submit a résumé
and to create a user account and stepthrough the forms are provided on the
main Web page. Should you have any
questions or concerns, email us at
The fourth edition will contain the résumés
lead@womeninthelead.ca
of approximately 800 distinguished names.
We are inviting senior-level women who
were not listed in the third edition of the
directory (2006) to submit their résumés
online if they feel they are qualified for
board appointment. An advisory committee, using strict criteria, will review
the submissions and candidates will be
notified. To submit your résumé online,
visit www.womeninthelead.ca
Continued from page 3
Hence, women who value profes•
sional autonomy are more likely to
own a business. This was not the
case for male respondents: no significant difference among occupation
and the importance accorded to professional autonomy was noted. Gender-related career barriers may motivate those women who value professional autonomy to seek entrepreneurial roles. It may be that for some
women, business ownership enables
freedom to exercise judgment. It may
be that some women perceive business ownership as a means to leverage their management experience
and education.
4
occupational differences with respect
to the importance accorded to financial outcomes of success were also
noted ─ but only for men. Men who
rated financial criteria as relatively
more important were more likely to
be employed. This was not the case
for female respondents. Why might
this be the case? Compared to male
business owners, perhaps male corporate employees perceive financial
success to be a relatively more important performance metric. Alternatively, perhaps women are less likely
to equate occupation and financial
remuneration.
The study provides new insights about
the ways in which Canadian business
leaders define success and illustrates how
occupation, gender and influences such
as experience and education moderate
they way in which Canadians perceive
personal and professional success. And
like all research, it raises interesting questions of future study.
For a free copy of the study, write to
orser@telfer.uottawa.ca.
What do women bring to the boardroom?
Kelly Butt is a London, Ontario, consultant with over 35 years experience in executive leadership
and board positions in the Financial Service Industry. Before forming her own company, Kelly
Butt Consulting, in 1998, she was Senior Vice-President, Information Services at London Life
Insurance Company where she was responsible for the strategic direction and use of technology in
all company operations. She was responsible for a budget of $100 million and a staff of 300.
Currently, Kelly is Chair, Board of Directors Hospitals of Ontario Pension Plan, Chair of Scenario Systems International and serves on the Boards of Renasant Financial Partners Limited
and The Cumis Group.
When asked by Leaders of Change newsletter what she felt women brought to the boardroom she
responded with this article.
So why would you want more women on your board? After all we
don't think like men, we don't talk sports, we focus on everything
except the money, and we just don't participate in the real conversations - those that happen in the men's room. Besides we don’t
have the experience that men have. RIGHT.....we think differently
considering the more subjective aspects of strategies and decisions, we have different interests, we bring the important discussions back to the board room, and we play the rookie role well.
Let's look at why each of these could improve the governance of
your organization.
tough questions and setting clear boundaries. We are open to new
ideas – learning is a skill we have developed through the many
changes in our own lives. We have had to balance work, family
and personal lives and we respect the challenge that brings to others. We are a driving force in building high performance teams at
the board level and we bridge the management/governance
boundaries well.
Women bring discussions back into the board room
On many boards the real conversations take place outside the
board room – excluding valuable input from all members and ofWomen think differently
ten biasing directions before the debate has even begun. Because
we aren’t present at these private discussions, we make sure they
Just as other successful people in the business world do, women
can set direction, analyze problems and provide leadership to or- come back into the board room. We aren’t afraid to question what
is really going on. We draw out differing views and we are able to
ganizations. In addition we bring a highly developed emotional
call people on behaviour that is not appropriate to the effective
intelligence. Perhaps our maternal tendencies make us more attuned to body language and other non-verbal clues. Our instincts functioning of boards. We set a personal example which encourallow us to look at issues, opportunities and strategies differently. ages all board members to pay attention to their fiduciary responRather than simply a cold analytical view, we consider a holistic sibilities. We ensure that we consider ethical and social issues. We
also consider the views of customers and employees in our delibview – one that can be extremely important during debates on
erations.
acquisitions and major change initiatives. Our sensitivity to the
“people issues” helps to understand a broader set of risks and to
Women bring the enthusiasm of rookies
develop plans to deal with those risks.
We do our homework – we are diligent about being prepared for
meetings. We come armed with questions and we seek out information from a variety of sources. After all we are trying to imWomen may not get excited about discussing the latest football
statistics or who scored what in last night’s hockey game – but we press you so that you will continue to invite us into your board
are very interested and attuned to teamwork. After all – when the rooms. We govern with energy and enthusiasm. We invest in forchildren were younger we did coach or referee the soccer team or mal education keeping abreast of important developments. We are
we provided leadership as a Scouting den mother. We know how pleased when seasoned veterans give us advice and counsel. We
to build successful teams – both in business and at home, and we will seek out your opinions on important issues. And while we
may stumble occasionally we will learn from our mistakes – even
bring these skills into the boardroom. We are inclusive of all
backgrounds and perspectives – we are after all a minority group. laughing at ourselves as we learn the plays in the big league.
We are able to facilitate agreements by listening carefully, asking
Women have complementary interests
5
Carol Stephenson (center), Dean of Richard Ivey School of Business, is shown here at ceremonies marking the opening of Ivey’s
ING LEADERSHIP CENTRE located on the ground floor of the Exchange Tower in the heart of Toronto’s financial district.
Carol Stephenson is dean of the Richard Ivey School of Business, University of Western Ontario
Lessons to be learned:
Wizard-of-Oz-style leadership relevant today
By Carol Stephenson
In the decades since it was first published in 1900, historians,
economists and literary scholars have sought to interpret the symbolism of L. Frank Baum’s The Wonderful Wizard of Oz. Some
have speculated that the “yellow brick road” represented the gold
standard and that the “Emerald City” was really Washington, the
centre of “greenback’s” power. Others theorised that the
“Scarecrow” was the typical farmer of the era, whose stuffing was
knocked out of him by new economic realities. Some believed
that the “Tin Man” embodied the mechanised uniformity of factory workers who, through industrialisation, had lost their human
hearts. The “Lion”, meanwhile, may have represented the politicians, who lacked the courage to protect the “little people”.
ning “technicolour”. And as Dorothy describes Oz, the world of
business today is indeed “a beautiful place, but dangerous too”.
With the rapid advance of technology, the growing integration of
markets and the rush to globalisation, business is now resplendent
in unprecedented opportunities and possibilities. But, its challenges are just as profound. Just like Dorothy in Oz, corporate
leaders must deal with a plethora of new cultures and different
ways of thinking. They face plenty of unforeseen risks and unanticipated threats. They must make choices, often quickly. And
there are always consequences that reverberate from those
choices.
Yet from the beginning of her predicament, Dorothy remains undaunted. She immediately sets out on her mission to find the Wizard, who could help her achieve her goal – to return home. She
persuades the Scarecrow, the Tin Man and the Lion to join her
quest. Along the way, she gains the support of the Munchkins,
and eventually even wins the loyalty of the Wicked Witch’s
guards. Ultimately, she is successful not only in persuading the
Consider the opening sequence of events, where Dorothy is cast
Wizard to grant her wish and those of her travel companions, but
by a tornado, far away from the safety and security of her home, also in blazing a new path and creating new opportunities for all
to the Land of Oz. You could liken the tornado to the great waves of them.
of change that have rocked business during the past decade, such The Wonderful Wizard of Oz is an imaginative tale about the
as the advent of the World Wide Web, the bursting of the dotcom triumph of good over evil. But what fascinated me as a young
bubble, and the corporate scandals that rocked our faith in busigirl, and what continues to strike me today, is not “what” hapness leaders. As in the immortal 1939 film depicting Dorothy’s
pened to Dorothy. Rather, it is “how” Dorothy’s leadership made
story, it seems as if we have been transported from the black and it happen.
white reality of Kansas to the brilliant Land of Oz, in all its stunBaum himself insisted his intent was far less complicated. He
simply wanted to create a gentler type of fairy tale, and a heroine
with whom children could identify. I believe he certainly
achieved that and more. For me, the lessons that Baum imparts
about leadership in the Wizard of Oz are timeless and perhaps,
more relevant today than ever before.
6
In many ways, Dorothy exemplifies the essential qualities of
what we now call a Cross-Enterprise Leader – a leader adept at
building, fostering and influencing a complex web of relationships across all levels – from employees, partners and suppliers
to customers, citizens and even competitors. She clearly possesses the three central qualities of all great leaders – the same
qualities sought by the Scarecrow, the Tin Man and the Lion.
More importantly, she in effect leverages those qualities to create a powerful team to her advantage, to the advantage of her
stakeholders, and to the advantage of her enterprise – both the
Land of Oz and home.
But as the Wizard explains to her and her companions, courage
is not the absence of fear, but the acknowledgement of real and
potential dangers and the willingness to proceed decisively forward despite them. Dorothy is a very brave young woman. She
never lets her fear of the dangers that lie ahead get in the way of
her journey.
Equally significant, especially in light of the calibre of leadership demanded by today’s corporate environment, Dorothy
never “commands” others to follow her lead. Instead, she often
consults with her travel companions on the best course of action. She also embraces the goals of her companions as part of
her own, inviting Scarecrow, Tin Man and Lion on her journey
so they can ask the Wizard to fulfill their own wishes. In the
end, she and her new friends are not only successful individually they also help to bring new peace and prosperity to everyone in Oz.
First, all successful leaders have a superior mind and knowledge – a “brain” as the Scarecrow wanted. But in today’s volatile and ever-changing markets, effective leaders not only must
continually strive to gain greater knowledge and understanding
but need to develop sound judgment
to employ it effectively. Throughout
the quest toward the Emerald City,
“courage is not the absence of
Dorothy is persistently inquisitive.
fear, but the acknowledgement of
She asks many questions of her fellow travellers and the others they
real and potential dangers and
meet along the yellow brick road. She
the willingness to proceed decicontinually learns. She is also able to
sively forward despite them.
think on her feet and to take action
quickly. When the Wicked Witch sets
Dorothy is a very brave young
fire to the Scarecrow’s arm, for exwoman. She never lets her fear of
ample, she immediately snatches a
pail of water, extinguishing the fire
the dangers that lie ahead get in
and the Witch in one decisive act.
In short, Dorothy is a highly intelligent leader who makes decisions
quickly and effectively, even in times
of great uncertainty. She is also compassionate, appreciating the value of
communications and collaboration.
And she is courageous, willing to take
risks and face danger head on.
Dorothy never threatens, cajoles or
commands. Rather, she influences.
She leads by example. And consequently, like all great leaders, she
the way of her journey”
helps to foster these qualities in othSecond, great leaders have empathy
ers. Before Dorothy returns home to
or “heart”, which is absolutely essenKansas, the Wizard appoints Scaretial to creating an atmosphere of trust
crow, Tin Man and Lion as the new
and respect. It is Dorothy’s heart that convinces the cranky and leaders of the Land of Oz.
doubtful Tin Man to join her on her quest. Throughout her journey, she continues to display compassion for others. As a As our research at Ivey has shown, people continually evaluate
leader, Dorothy never loses sight of the individual in striving what leaders say and do.
for her goal. She helps the Scarecrow down from his pole and Employees, customers and investors alike look to leaders to
continually oils the Tin Man’s squeaky joints. It is in her care show the way, to make sound decisions and to take positive
and concern for the feelings and needs of the individuals she action.
encounters that Dorothy engenders true respect and loyalty. In
turn, her companions begin to demonstrate the same concern They also demand authenticity, compassion and vision from
and understanding for each other. A team of disparate partners corporate leaders.
These are the qualities that engender trust, encourage initiative
is born and nurtured.
And third, exemplary leaders have courage, the quality the Lion and secure loyalty.
sought from the Wizard. To be sure, Dorothy is often frightened
by what she sees and hears on her journey. The cruel words of
the Wicked Witch make her tremble and she screams when the
winged monkeys carry her away.
I believe now, as I did when I was young girl, that Dorothy’s
brand of leadership is right for all times.
7
Put Your Name Forward
An Invitation to Explore
the New ICD Directors Register™
Beverly Topping, ICD.D
President & CEO
Institute of Corporate Directors
The Institute of Corporate Directors has seen a number of exciting
improvements over the past four months.
One such accomplishment was the recent launch of the new ICD
Directors Register™, a service that helps interested candidates find sued by the Wellesley Centers for Women, the authors found that
women not only bring, “a collaborative leadership style that beneboard opportunities.
As a premier member benefit, the ICD Directors Register will aid fits boardroom dynamics by increasing the amount of listening,
in connecting directors to new board opportunities and help aspir- social support, and win-win problem-solving, but women also
bring new issues and perspectives to the table, broadening the
ing directors obtain their first board experience.
content of boardroom discussions to include the perspectives of
As a national database of formally educated directors and other
multiple stakeholders.”
highly skilled professionals the potential value for organizations in
Such notable contributions being made by women in the boardthe private, public or not-for-profit sectors seeking board candidates cannot be overstated. The ICD Directors Register will easily room today suggests a tremendous opportunity for each of us to
continue to help shape and foster the effective boards of tomorand affordably assist in identifying and recruiting experienced
row.
candidates, many of whom have gone through a formal director
If you would like to submit your profile to the ICD Directors Regeducation program.
ister, I would invite you to become a member of the ICD by visitth
As of January 15 , 2008, the ICD Directors Register has had
ing www.icd.ca. If you have any questions about the ICD Direcnearly 500 profiles uploaded into the database. Approximately
40% of all members who have submitted their profile to the data- tors Register, please contact the ICD by email at DirectorsRegisbase have also earned their ICD.D designation. In addition, more ter@icd.ca, or by phone at 416-593-7741, ext. 228, or toll-free at
than 100 (or 21%) of these registrants are women, which is actu- 1-877-593-7741, ext. 228.
ally greater than the number of women directors and senior execu- Even if you have already completed your profile, please return
often to keep your information current and to take advantage of
tives in business today.
new profile selections that will be added shortly.
Through the ICD Directors Register, the ICD hopes to place a
number of qualified directors – including women – who meet the
search criteria of the sponsoring firm so that these new board
members can serve to help strengthen the board in a variety of
ways.
In a fascinating report entitled, “Critical Mass on Corporate
Boards: Why Three or More Women Enhance Governance” is
On behalf of the ICD, I would like to wish you all well in 2008
and look forward to continuing to explore the many ways in which
ICD and Women in the Lead can continue to work together to
promote women in senior leadership and boardroom positions
across Canada.
>>For details about Beverly Topping’s background and accomplishments, visit www.womeninthelead.ca/profiles.htm
The New Retirement: How it Will Change Our Future
A successful retirement for most people—be it at age 55, 65, or 75—is to be physically and fiscally independent, to be active, and to have love and purpose in their lives. Boomers will be
“retiring” retirement as our parents’ generation knew it. We will not settle for personal diminishment, social isolation, dependency, and inertia. In mind and body, we will remain active for as
long as possible, and most of us will continue to be productive well into our eighth decade. Our
later years will be more vital and exhilarating than they were for any previous generation, as we
are the healthiest and wealthiest generation ever to retire. And we can learn to age well, through a
growing body of scientific research that now suggests a number of predictive elements and learned
behaviours that can add healthy, productive years to our lives. Sherry Cooper’s bestselling new
book, "The New Retirement", which jumped to the #1 spot a week after its release, will show you
how to ensure fiscal and physical independence in your Act III.
Sherry Cooper is Global Economic Strategist and Executive Vice-President of BMO Financial Group and Chief Economist, BMO Capital
Markets. She received her M.A. and Ph.D in economics from the University of Pittsburgh, where she was awarded a Mellon Fellowship. Currently, she serves on the following boards: Women’s Network Executive, BMO Financial Group; Sunnybrook Health Sciences Foundation; Canadian Ditchley Foundation; Board of Trustees, Fraser Institute; INNET; Temple Sinai Investment Committee (Chair).
8
A p p o i n t m e n ts
Barbara E. Carle-Thiesson, a partner in Chartered
Accounting firm Tyce Carle-Thiesson, has been
appointed to the Board of Malaspina UniversityCollege in Nanaimo and as well has been appointed
to the Accounting Standards Oversight Council.
Sandy Jakab has been appointed Director, Capital Markets Regulation at B.C. Securities. She
has worked as corporate counsel, litigation counsel
and a policy analyst. She is a Director of Canadian
Corporate Counsel Association and the Canadian
Bar financial Services Association.
Gerarda Cronin, Professor and Associate Head,
Department of Pediatrics and Child Health, University of Manitoba, was elected to represent the Faculty of Medicine on the U of Manitoba Senate and,
is collaborating with Faculty of Engineering on a
Manitoba Health funded proposal to use business
reengineering to improve patient flow. (see also
Awards, page 11).
Victoria Lehman, a lawyer and Principal of her
firm Victoria E Lehman Law Offices, was elected
President of Winnipeg Rotary. She is also an
Advisor to Winnipeg Junior Achievement, was
elected to the Canadian Bar Association
Women’s Forum, is a Rotary Paul Harris Fellow. (see also Awards, page 11).
Caron Czorny, Executive Vice-President and
Montreal COO with Peak Insurance Services, Inc.,
was appointed to the Board of Trustees of the CLU
Institute. She has also been appointed to the Board
of the ACGSF.
Andrina Lever, President of Lever Enterprises,
has just completed the ICD course. In addition,
she has been working on international projects in
Chile, Peru, Tajikistan, Georgia, Ukraine and
Vietnam for the IFC and WTO. In Chile, a charitable foundation established in her name has already granted 56 micro loans to abused women
wanting to make a new beginning.
Jane Darville, consultant and Principal of Jane
Darville Associates, has been appointed to the
Board of The Women’s Health Research Institute
in Vancouver and the Cultural Centre in Abbotsford, BC.
Anne Lippert, a consultant specializing in issues
of corporate social responsibilities and corporate
governance as well as revenue and development
strategies for not-for-profit sector and previously
an executive with Royal Bank, has been appointed
by the Minister of Finance to the bcIMC Board
of Directors.
Colleen Fleming, has been appointed Chief Executive Officer of Canadian Breast Cancer Foundation, Central Office, located in Toronto. She has
more than 20 years executive leadership experience
in both not-for-profit and corporate sectors including President of Laura Secord and Senior VicePresident of Nestle Canada.
Nancy MacKay, Director of Operations, Inspire
Action International Inc. in Vancouver, was one of
five inductees to the Million Dollar Consultant
Hall of Fame. She was chosen for “excellence in
strategic and organizational consulting, building
executive teams and assisting diverse and global
organizations to move more rapidly toward their
strategic objectives”.
Hélèn F. Fortin, a Chartered Accountant with CGF
CA, was appointed to the Board of Assuris (she is
also a member of the governance and nominating
committees) and to the Board of Concordia University, where she is also a member of the Pension
Plan and Benefits committees.
Mary McDougall has been appointed President of
Pacific Arbour Three, a luxury retirement residence that will be developed in the Mount Seymour area of North Vancouver and is scheduled to
open in 2009. Former President and COO for Retirement Seniors Services Ltd. she led the company through aggressive growth including the
delivery of various private-public partnership developments.
9
A p p o i n t m e n ts
10
Monique Mercier, Executive Vice President, Law
and Human Resources, Emergis, Inc. was appointed
to the board of ORTHOsoft Inc. a computerassisted orthopaedic company that markets and
develops software instruments.
Marvi Ricker, Vice President Philanthropic Services, BMO-Harris Private Bank, and Chair of
Women in the Lead Inc., has bee appointed to
Toronto General and Western Hospital
Foundation.
Sylvie Morel, Director General, Exhibitions and
Programs Branch for the Canadian Museum of
Civilization Corporation, has been appointed President, International Council of Museums Canada
(ICOM Canada).
Judith M. Romanchuk, Senior Vice-President
Private Equity and Director, Leede Financial Markets Inc., and Finland’s Honourary Consul to Alberta and was appointed one of five members of
Alberta’s Financial Investment and Planning
Advisory Commission.
Linda Petch, President of Petch & Associates Management Consultants, Ltd., has been appointed to
the Board of Directors of Terasen Inc. and
Terasen Gas Inc.
Debi Rosati, founder of RosatiNet Inc., a venture
catalyst firm focused on developing financing
strategies for technology start- ups has been appointed to the board of Ontario Lottery Gaming
Corporation. She serves on the boards of Sears
Canada Inc., Axis Investment Fund and several
private company boards. She is involved in her
community as Chair of Canadian Internet Registration Authority and Co-chair of ENGAGE.
Carole Presseault, Vice-President, Government
and Regulatory Affairs, Certified General Accountants Association of Canada has been appointed to
the Boards of the Institute on Governance and the
Foundation for the Study of Governance Processes in Canada. (see also Awards, page 11).
Jane Shackell, a lawyer with Miller Thomson
LLP., Vancouver, has been appointed Vice-Chair
of the Board of Trustees of the Justice Institute
of British Columbia
Lea M. Ray, Vice-President Corporate Finance for
Warner Bros., Entertainment Canada Inc., and a
Chartered Accountant, was appointed to the Board
of Rouge Valley Health System.
Stella M. Thompson, Principal, Governance West
Inc., a TSX listed company in the pharma industry, has joined the Board of Resverlogix, where
she was also appointed Chair of the Audit Committee.
Katherine Rethy, an experienced corporate director and operations executive, has been named to the
Board of Katimavik, a not-for-profit organization
and has also been inducted into Canada’s Top 100
Most Powerful Women Hall of Fame.
Natalie Vukovich, co-founder and Partner Daoust
Vukovich LLP, was appointed to the Board of
Directors of Women’s College Health Research
(a Toronto-based, Ontario non-profit corporation.)
A p p o i n t m e n ts
Faye Wightman, President and CEO of Vancouver
Foundation, has received appointments to: Imagine
Canada; Community Foundations of Canada and
Brentwood College. She also serves on Ministers
Council on Disabilities and Ministers Council for
Act Now.
Pictures not available
Lucette Poliquin, Associate, Jacques Davis Lefaivre, S.E.N.C.R.I. has
been appointed by the Government of Quebec an Administrator of
Carra (Commission administrative des regimes de retraite et d’assurances) and President of the Audit Committee.
Janet Yale, Executive Vice-President Corporate
Affairs, TELUS Communications Company was
inducted into the Women’s Executive Network
Hall of Fame and was also appointed as a member
of the IIC International Board of Trustees.
Awards
Gail Asper, President and Corporate Secretary,
CanWest Global Foundation was awarded the Order of Manitoba.
Elizabeth Parr-Johnston, President of Parr
Johnston Economic and Policy Consultants, in
July, was made a Member of the Order of Canada in the field of education. She was President of
Mount Saint Vincent University (1991-1996) and
President of the University of New Brunswick
(1996-2002).
Roberta Fox, Senior Partner, FOX GROUP Telecom Consulting, received the Entrepreneur of the
Year Award from the East Gwillimbury Chamber
of Commerce. She was also nominated for the
Trailblazer of the Year award with the Canadian
Women in Communications Association.
Irene Pfeiffer, President of Moorgate Holdings
and Strategic Consultant to The Mustard Seed
Street Ministry was awarded the Order of Canada for her volunteer service to the community.
Lorraine McGrath, Vice-President, Interior Region for Prospera Credit Union was named the recipient of the Sarah Donalda Treadgold Memorial
Award for Woman of the Year in Kelowna, BC.
She was also awarded an Honorary Fellow by
Okanagan College in recognition of her efforts in
the community, mentorship of young entrepreneurs,
keynote speaking presentations at schools and overall contribution to education in Kelowna.
Further Awards information
Carole Presseault, Vice-President, Government and Regulatory Affairs,
was awarded an honorary CGA by the Board of Directors of CGACanada for exemplary service to the organization.
Gerarda Cronin, Professor and Associate Head, Department of Pediatrics and Child Health, University of Manitoba was nominated for the
YM/YWCA Women of Distinction Award.
For details about the background and accomplishments of all women Victoria Lehman, a lawyer and Principal of her firm Victoria E Lehman Law Offices, received an Osteoporosis Canada Volunteer Service
listed in the Appointments and Awards of this issue, visit
www.womeninthelead.ca/profiles.htm
Award.
11
Board Members
Women in the Lead
Bob Anthony
Chief Credit Officer
HSBC Bank Canada
Kathleen Christie (Honourary)
National Director Human Resources
Deloitte & Touche LLP
Shanghai China
Andrée Corriveau
President
Financial Women’s Association of
Quebec (FWA)
Peg Hunter
Vice President Marketing and
Communications
The Home Depot Canada
Helen Kearns
President
R.S. Bell & Associates Ltd.
Mary Susanne Lamont
President
M.S. Lamont & Associates Ltd.
Geoffrey N. M. Lewis
Lawyer
Farris, Vaughan, Wills & Murphy LLP
Sarah Morgan-Silvester
Chair
BC Women’s Hospital & Health
Centre Foundation
Marvi Ricker (Chair)
Vice President, Philanthropic Services
BMO Harris Private Banking
Carol Stephenson
Dean
Richard Ivey School of Business
Patricia A. A. Taylor
Lawyer
Forstrom Jackson
Ex Officio
Doreen McKenzie-Sanders, C.M.
Executive Director, Publisher/Editor
Women in the Lead Inc.
For details about the background and
accomplishments of the members of the
board of Women in the Lead Inc., visit
www.womeninthelead.ca/profiles.htm
12
Report Finds No Progress in the Number of Women on
Canadian Corporate Boards
The annual survey of the boards of Canada’s largest 300 public companies produced by
Patrick O’Callaghan and Associates in partnership with Korn/Ferry International was recently released. Corporate Board Governance and Director Compensation in Canada – A
Review of 2007 showed that over the past year there has been no progress in the number of
female directors. According to the report, women hold just eight percent of all directorships.
While the percentage of women directors remained unchanged, the study revealed a decrease in the number of companies that have women on their boards. Forty-seven percent
of boards had at least one female director – a number that has dropped for the third year in
a row.
Women on Board™ Mentoring Program – Update
By Thea Miller, Program Director
The lack of progress in the number of women on Canadian corporate boards moved Patrick
O’Callaghan, Managing Partner of Patrick O’Callaghan and Associates, to partner with
Carol Stephenson, Dean of Richard Ivey School of Business, to initiate the Women on
Board™ Mentoring Program.
The program was launched in early 2007 with seven participating companies, including
Alcan, Brookfield Asset Management, Manulife Financial, TD Bank Financial Group,
TransAlta Corporation, TransCanada Corporation, and TSX Group. Their CEOs or Board
Chairs were matched up with women nominated by other participating companies. The
pairs met approximately quarterly.
Throughout the year the feedback we received was very positive. The women were really
delighted with their mentors and how tremendously helpful they were. Now that the 2007
program year has come to an end, participants are in the midst of assessing the program
through a formal evaluation process.
The 2008 Women on Board™ Mentoring Program is just getting underway. With double
the number and variety of participating companies and the ongoing support of our sponsors
and supporters, we are looking forward to an excellent program year.
For more information about the Women on Board™ Mentoring Program, contact Thea
Miller at 604-685-5880.
Doreen McKenzie-Sanders, C.M.
Executive Director
Publisher/Editor
Email: d_sanders@telus.net
Head Office of Women in the Lead Inc.
Farris, Vaughan, Wills & Murphy
26th Floor, 700 West Georgia Street
Vancouver, BC V7Y 1B3
Editorial Office:
P2-1348 Barclay Street
Vancouver, BC V6E 1H7
Telephone: 604.602.0907
Shi Qi (Shirley) Wang
Administration and Technology
Email: sqwang@telus.net
Leaders of Change, a newsletter service,
is published by Women in the Lead Inc.,
for those in business, government, organizations, and academic life who have
an interest in the advancement of women
to corporate boards and in the issues surrounding corporate governance. © 2007
To order the published directory and
online subscriber database, go to
www.womeninthelead.ca/ordering.htm