California outlawed the all-white-male boardroom. That move is reshaping corporate America
Hundreds of public companies used to fill their corporate boards exclusively from their networks of familiar faces — typically white men.
Then California outlawed the all-white-male boardroom in 2018.
Women now control more than a quarter of corporate board seats nationwide — 50% more than they did before the 2018 California law requiring women on boards was passed.
In 2018, California outlawed the all-white-male boardroom.
The state’s requirements that publicly traded corporations diversify their boardrooms were ridiculed as quixotic by some.
The courts are still threatening to erase the quotas.
The bottom line is that diversity in corporate boardrooms is good for business.
"Women now control more than a quarter of corporate board seats nationwide — 50% more than they did before the 2018 California law requiring women on boards was passed."
California's ban on all-white-male boardrooms is spreading — Nasdaq is requiring nearly all of the more than 3,000 companies listed on it to have on their boards at least one woman and one non-White or LGBTQ, or explain to shareholders why they don’t
California stepped into uncharted territory when it outlawed the all-white-male boardroom. The move may have been illegal, but it is nonetheless having a profound impact on corporate America. NEW in our U.S. of Calif series. (1/7)