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Published On: Mon, Oct 1st, 2018

California adds new sexist law to require women on companies boards’

Companies headquartered in California can no longer have all-male boards. A new law passed on Sunday requires publicly traded firms in the state to place at least one woman on their board of directors by the end of 2019 — or face a penalty.

The new California law also requires companies with five directors to add two women by the end of 2021, and companies with six or more directors to add at least three more women by the end of the same year.

It’s the first such law on the books in the United States, though similar measures are common in European countries.

The measure was passed by California’s state legislature last month, was signed into law by Gov. Jerry Brown on Sunday, to “protect and support women, children and working families,” the governor’s office said in a release.

A majority of companies in the S&P 500 have at least one woman on their boards, but only about a quarter have more than two, according to a study from PwC.

California state Sen. Hannah-Beth Jackson told The Wall Street Journal last month when the legislation passed that “one-fourth of California’s publicly traded companies still do not have a single woman on their board, despite numerous independent studies that show companies with women on their board are more profitable and productive.”

“With women comprising over half the population and making over 70% of purchasing decisions, their insight is critical to discussions and decisions that affect corporate culture, actions and profitability,” she told the outlet.

photo Marcus Werthmann

About the Author

- Writer and Co-Founder of The Global Dispatch, Brandon has been covering news, offering commentary for years, beginning professional in 2008 on sites like Examiner and blogs: Desk of Brian, Crazed Fanboy. Appearing on several radio shows, Brandon has hosted Dispatch Radio, written his first novel (The Rise of the Templar) will be a licensed Assembly of God Pastor by the Spring of 2017. "Why do we do this?" I was asked and the answer is simple. "I just want the truth. I want a source of information that tells me what's going and clearly attempts to separate opinion from fact. Set aside left and right, old and young, just point to the world and say, 'Look!'" To Contact Brandon email [email protected] ATTN: BRANDON

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