High-performing boards cultivate an environment where directors can challenge assumptions constructively

Spencer Stuart's 2025 Canada Board Index (released early 2026), covering the 100 largest publicly traded Canadian companies (each with at least C$1 billion annual revenue), finds high-performing boards cultivate an environment where directors can challenge assumptions constructively, ask bold questions and engage in candid but respectful debate, with trust foundational to oversight and decision-making. Headline data: CEO profiles surged to 35% of new non-executive director appointments (up from 24% in 2024) — boards prioritising "battle-tested" leaders; women hold nearly 40% of CSSBI 100 directorships; 46% of directorships are held by historically underrepresented groups (up from 38% in 2021); 15% by individuals self-identifying as Indigenous, visible minorities, persons with disabilities or 2SLGBTQI+ (nearly double 2021). Useful comparator for SEA mid-market boards.