SACRAMENTO, Calif. โ Hundreds of California-based corporations must have directors from racial or sexual minorities on their boards under a first-in-the-nation bill signed Wednesday by Gov.
The diversity legislation is similar to a 2018 measure that required boardrooms to have at least one female director by 2019.
โWhile some corporations were already leading the way to combat implicit bias, now, all of Californiaโs corporate boards will better reflect the diversity of our state.
Those who qualify would self-identify as Black, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native, or as gay, lesbian, bisexual or transgender.
The text of the corporate diversity bill cited the Latino Corporate Directors Association, which said 233 of 662 publicly traded companies headquartered in California had all-white boards as of this year.