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California Outlaws All-Male Boards
California Gov. Jerry Brown has signed a law that no longer allows companies headquartered in the state to have all-male boards. The law requires publicly-traded firms in the state to have at least one woman on its board of directors by the end of 2019, or face a penalty. There are 165 California-based publicly-traded companies.
Companies with five directors are required to add two women by the end of 2021, and companies with six or more directors must add at least three more women by the end of 2021.
California becomes the first in the U.S. with such a law, though the practice is common among European countries. The state says roughly one-fourth of California’s publicly-traded companies do not have a single woman on its board.
For comments, questions or concerns, please contact Dennis Kaiser
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