Bank of Montreal | Women managers: promotions and advancement at Bank of Montreal

Status
Withdrawn
AGM date
Previous AGM date
Resolution details
Company ticker
BMO:CN
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
Financials
Company HQ country
Canada
Resolved clause
It is proposed that the Bank annually publish, in a form left to its discretion, a report on the representation of women in management from entry-level to the highest-level positions immediately below president.
Supporting statement
The pandemic has completely disrupted our economy and our various workplaces. The crisis has affected women in particular, with millions of them having to quit work or favour part-time, or simply being laid off owing to the nature of their work or the economic sector in which they worked. Companies thus find themselves with far fewer women in management positions or in the process of becoming future managers, which will only exacerbate an already-existing situation. According to a study by McKinsey, while women made up 50% of entry-level employees in the organizations surveyed, only 31% of them are vice presidents and 14% CEOs, as this graph illustrates. There are in fact measures “to help women lessen the career and financial impacts of unpaid parental leave and part-time work”, as women are still today more likely than men to be in such employment situations, which are barriers to their advancement. Companies cannot risk losing even more women in management positions. The report proposed here will take stock of the situation at these different levels, encourage senior management to set gender targets at 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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