New Federal Cabinet - The AQWF congratulates Prime Minister Trudeau for his vision

MONTREAL, Nov. 4, 2015 /CNW Telbec/ -  The Association of Quebec Women in Finance (AQWF) enthusiastically welcomed the appointment of the newly elected Liberal government's Cabinet. In light of its equal representation, the AQWF wishes to emphasize not only Prime Minister Trudeau's vision, but also the fact that he fulfilled his campaign promise to that effect.

"We are particularly proud that Mr. Trudeau has recognized the contributions of the women within his entourage, which will foster collegiality between the men and women called upon to govern our country, as well as introduce new ways of thinking and addressing issues," said Dana Ades-Landy, Chairman of the Board for the AQWF. "Through their intelligence, energy and professionalism, the Cabinet's newly appointed women will be sure to fulfill their assignments and tackle the greatest challenges."

Keeping pace with Canada

By fostering diversity at the Canadian government's highest levels, Mr. Trudeau thereby endorses a movement that has picked up steam for the last several years, and especially during this past year. Indeed, since October 2014, most securities regulatory authorities across all Canadian provinces, the Northwest Territories and Nunavut have required publically listed companies to disclose information on their respective governance practices. Stock issuers therefore have to produce information pertaining to such matters as:

• policies on female representation on their board of directors;
• consideration taken by their board of directors or nominating committee regarding female representation when seeking and selecting candidates to fill administrative positions;
• the issuer's consideration of female representation in appointing members within its executive management team;
• female representation objectives within their board of directors and executive management team;
• the number of women appointed to their board of directors and upper management team.

Considering that in some provinces, including Quebec, women make up barely 20% of board membership, there is still considerable work to do to change mindsets and recognize the value of diversity in organizational governance. "Without the efforts made by Crown corporations, which are required to uphold equal representation standards, this percentage could have been even lower, which is somewhat disappointing," added Ms. Ades-Landy.

However, major studies have helpfully highlighted women's abilities, which generally include leadership qualities that complement men's own. The ability to conceptualize and align strategies, take initiative and focus a given group's energy, combined with an innate talent for considering a global perspective, integrity, honesty, tenacity, efficiency and a willingness to get results and optimal performance from our organizations, are all qualities that define women and prove vital in creating enriching workplaces.

"It's refreshing to see that our new Prime Minister not only recognizes women's contributions to our society, but also puts his words into action and leads by example by surrounding himself with a team of seasoned women who, just like their male counterparts, will serve our country to the best of their ability," concluded the AQWF's President.

About the Association of Quebec Women in Finance

Founded in May 2002, the Association of Quebec Women in Finance (AFFQ) is comprised of over 500 Quebec women in finance. Besides creating a mentorship program to support women in finance, the AQWF offers its members professional development and networking activities, as well as interventions with young people at the academic level. Each year, the AQWF organizes several international business activities, thereby providing women in finance with preferred access to a major network of financial organizations spanning several countries.

In 2014, the AQWF joined forces with a group of about ten other organizations to create Ensemble vers la parité, a movement to spread awareness among corporate leaders and businesspeople, both male and female, on the new reality of fostering diversity within organizational leadership. Through education and information, said movement seeks to support companies, along with their boards of directors and human resources and governance committees, in promoting diversity. It also aims to support their efforts toward achieving a greater presence, based on their objectives, of women in boards of directors and executive management teams within companies across Quebec and the rest of Canada.

SOURCE Association des femmes en finance du Québec (AFFQ)

or to schedule an interview, please contact: Yvette Cakpo, Massy Forget Langlois Public Relations, 514-842-2455, ext. 22, [email protected]