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Women hold 8.5 per cent of the highest-paid positions in Canada’s top 100 listed companies, according a report by global executive search firm Rosenzweig & Company.

"You see studies out there demonstrating that the more diversity you have at the top – the better the business results.Forget the moral imperative, companies are doing better if they have diversity of thought, diversity of thinking, diversity of background around the table," Rosenzweig said.Germany’s decision to impose a 30 per cent quota for women to sit in boardroom seats may also put pressure on companies to promote more women, he said.Rosenzweig said he doesn’t support the use of quotas and believes companies will make incremental changes over a period of years towards more gender balance.

Improved education and public awareness are helping the push toward change, he said.

The Rosenzweig report is based on management information circulars listing the occupants of executive suites at the 100 largest listed companies in Canada. that champions women in senior business roles, is set to open a chapter in Canada this year.