Publicly traded companies based in California are scrambling to meet a state law—the first in the U.S.—requiring that they have at least one woman on their boards of directors by the end of this year or face a $100,000 fine.
There are around 600 publicly traded companies headquartered in California, which last year passed a law requiring those organizations to have at least one woman on their boards by the end of 2019. By the end of July 2021, boards with five members would need to add at least two women on their boards and boards with six or more members must add at least three women.
Companies failing to adhere to the law face a $300,000 fine for every seat that should be filled by a woman, according to The New York Times.
There has been…
Credit to Kathy Gurchiek for the original post.