Business

Study Finds 30 Percent Of California Public Companies Must Add Women To Their Boards Under New Law

By Mike Freeman
The San Diego Union-Tribune

WWR Article Summary (tl;dr) A new law requires publicly traded corporations headquartered in California to include at least one woman on their boards by the end of 2019.

The San Diego Union-Tribune

Nearly 30 percent of California public companies will have to add women to their board of directors by year end to comply with a 2018 state law aimed at boosting gender diversity in the boardroom.

The Women on Boards survey released last week by San Diego-based Board Governance Research looked at the board makeup of 642 publicly traded companies headquartered in California. It found 184 firms will need to find a woman director this year under the law.

Most are small publicly traded companies with a market capitalization of $300 million or less, said Annalisa Barrett, author of the study and chief executive of Board Governance Research.

“I was surprised by the number of companies that are going to have to make changes in their board composition,” said Barrett, who is also a lecturer at the University of San Diego on corporate governance. “Almost 200 this year are going to have to add women to their boards, and certainly by the 2021 deadline, there is going to be significant change in the board rooms of California companies.”

In October, former Gov. Jerry Brown signed a law that requires publicly traded corporations headquartered in California to include at least one woman on their boards of directors by the end of this year.

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