Publicly traded California companies have nearly doubled the number of female directors on their boards in the three years since a first-in-the-nation law mandating gender diversity on boards was enacted in the state, a new report has found.
A report released Tuesday by the California Partners Project, or CPP, found that women now hold 1,483 board seats, or 26.5%, at such companies, nearly double the 766 seats, or 15.5%, held by women in 2018.
The report also found a racial gap, though: Only 6.6% of total board seats are held by women of color, even though women and girls of color comprise 32% of our states population. A majority of the companies, or 56%, have no women of color on their boards.
In 2018, then-California Gov. Jerry Brown signed into law Senate Bill 826, which requires publicly traded companies in the state to have at least one, two or three women on their boards, depending on their size, by the end of 2021. Companies that dont comply could be fined $100,000.
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