Madness.
"After requiring publicly owned companies based in California to have at least one woman on the board of directors, the state is looking to further diversify corporate boards with Assembly Bill 979.
By the end of 2021, publicly held California corporations must have at least one board member from an unrepresented community, self-identifying as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native, or gay, lesbian, bisexual or transgender.
By the end of 2022, if the board has nine or more board seats, then at least three seats must go to members of minority communities, according to the new law. Companies that fail to come into compliance face a series of fines between $100,000 and $300,000. AB 979 is already facing legal challenges making their way through the courts."
"After requiring publicly owned companies based in California to have at least one woman on the board of directors, the state is looking to further diversify corporate boards with Assembly Bill 979.
By the end of 2021, publicly held California corporations must have at least one board member from an unrepresented community, self-identifying as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native, or gay, lesbian, bisexual or transgender.
By the end of 2022, if the board has nine or more board seats, then at least three seats must go to members of minority communities, according to the new law. Companies that fail to come into compliance face a series of fines between $100,000 and $300,000. AB 979 is already facing legal challenges making their way through the courts."