The Globe and Mail’s Report on Business has released its highly anticipated 2025 Board Games rankings, and Kingsdale is proud to celebrate the exceptional performance of our clients.
For more than two decades, Board Games has set the gold standard for evaluating corporate boards on the S&P/TSX Composite Index. Using a rigorous set of governance criteria that go far beyond minimum regulatory requirements, the rankings highlight organizations that lead with excellence.
This year, several Kingsdale clients, including Fortis, Manulife, and Scotiabank, secured top positions, demonstrating their commitment to strong governance and shareholder value.
Top-Performing Clients
- Fortis Inc. (Ranked #1)
- Manulife Financial Corp. (Ranked #3)
- The Bank of Nova Scotia (Ranked #5)
Some other companies in the Top Third include First Capital Real Estate Investment Trust (Ranked #21), Kinross Gold Corp (Ranked #28), and Keyera Corp. (Ranked #34) which gained 8 points
View the full list of rankings
Ready to improve your governance ranking or join Canada’s leaders? Contact us today at strategy@kingsdaleadvisors.com.
Latest Insights
Modernizing Take-Over Bid Rules Without Losing Market Flexibility
The Canadian Securities Administrators closed a 90-day consultation period earlier this month on proposed amendments to Canada’s issuer bid, take-over bid and beneficial ownership reporting regimes. Investors need decision-useful information, while market participants need the flexibility to engage, adapt and execute effectively.
Upcoming Event | Governance on the Move: Shareholder Engagement in a New Era
On September 23, 2026, Kingsdale Advisors is hosting an in-person event in Toronto, where senior leaders from the Ontario Securities Commission, Glass Lewis, and Canadian Coalition for Good Governance will share latest industry insights. Register your interest to attend.
Kingsdale's Victor Li Talks Insider-Led Activism with Diligent
Our EVP of Governance Advisory, Shengjun (Victor) Li, CFA, ESG, HRCCC Li, spoke with Diligent's Simon Roughneen about the rise in activist campaigns, along with insights from the 2026 proxy season.
When The Stakes Are Highest, Business Leaders Choose Kingsdale
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* Source: Bloomberg Global Shareholder Activism League Tables FY2025 and LSEG Global Shareholder Activism Review FY2025.
#2025 and 2026 indicate proxy seasons: July 2024 to June 2026.