New study reveals unique nature of Alberta corporate Boards
CALGARY, Dec. 12, 2012 /CNW/ - Global executive search firm Spencer Stuart has released the inaugural Alberta Spencer Stuart Board Index, examining the composition, processes and compensation of the boards of Alberta-based public companies and how they compare to public companies in the rest of Canada.
"Anyone who has done business in Alberta will attest to the uniqueness of the companies that call Alberta home," says John McKay, who leads the Calgary Spencer Stuart Board Practice. "That's why we're proud to bring the unique insights of our company's flagship Board Index to the Alberta market."
Spencer Stuart has been reporting on board practices of Canada's 100 leading publicly traded companies since 1996, and has developed the Alberta Board Index in response to requests from clients for Alberta-specific data. The findings paint a compelling picture of Alberta's current corporate boards, providing directors with insight into future trends.
Key Findings from the Alberta Spencer Stuart Board Index Report:
- Female board representation in Alberta is at 8%, compared to 15% for Canada.
- 66% of board members are from Alberta.
- 126 of 800+ directors (15%) are from outside Canada, a number that will likely continue to grow in the years to come.
- Nearly one-third of directors in Alberta sit on at least one other board, which suggests a degree of interconnectivity and supports the observed desire to bring more diverse board experience to the table.
"As the Alberta business community grows and matures, a gradual changing of the guard is happening at the board level," said Cliff Howe, who leads the Spencer Stuart Calgary office. "Currently two-thirds of Alberta board members reside in Alberta, and 7% of Alberta directors sit on four or more boards within our Index. Companies are both motivated and challenged to diversify their boards by looking more broadly for talent."
The Alberta Spencer Stuart Board Index can be accessed here:
About the Alberta Board Index
The Alberta Spencer Stuart Board Index is a provincial-based Index that provides a snapshot of 100 Alberta-based public companies with revenues ranging from $100 million to over $35 billion. The data underpinning the results of the index was derived from each company's Management Information Circulars, Annual Information Forms and Annual Financial Statements filed with SEDAR.
About Spencer Stuart
Spencer Stuart is one of the world's leading executive search consulting firms. Privately held since 1956, Spencer Stuart applies its extensive knowledge of industries, functions and talent to advise select clients — ranging from major multinationals to emerging companies to nonprofit organizations — and address their leadership requirements. Through 53 offices in 29 countries and a broad range of practice groups, Spencer Stuart consultants focus on senior-level executive search, board director appointments, succession planning and in-depth senior executive management assessments. In 1978, Spencer Stuart was the first global executive search firm to enter the Canadian market and today has a rapidly growing office in Calgary.
SOURCE: Spencer Stuart
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