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MFDF - Mutual Fund Directors Forum - Calif. Bill Mandates Female Directors for Public Companies

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Calif. Bill Mandates Female Directors for Public Companies

The Wall Street Journal reported that California legislators passed a bill that requires public companies based in the state to have at least one female member on their boards of directors. There is no similar federal requirement for U.S. companies although several European countries have been moving to mandate more diversity on company boards. Similar initiatives have been launched in Illinois and Massachusetts. According to the Wall Street Journal report, the bill received strong support in the California state Assembly and is now headed to the state senate. Business groups, including the California Chamber of Commerce, opposed the measure.