“California will require publicly listed companies with headquarters in the state to have at least one woman on their boards of directors by end of 2019, under a bill signed into law on Sunday,” Reuters reports. “The law would mandate at least two female directors by the end of 2021 if the company has five directors and three women if the company has six or more directors. Violators face fines of at least $100,000 and up to $300,000 for multiple violations of the statute.”
“Silicon Valley tech companies started disclosing workforce diversity figures in 2014, but progress at the top has been slow, underscoring the challenge of transforming cultures that critics say are too homogenous, white and male dominated,” Reuters reports. “Companies including Apple Inc, Google parent Alphabet Inc and Facebook Inc are headquartered in California and will each need to add at least one more woman to their boards by 2021 to meet the law’s requirement.”
Full article here.
MacDailyNews Note: Apple’s BoD is currently comprised of eight people, 6 males and 2 females:
Arthur D. Levinson, Chairman of the Board
James A. Bell
Albert A. Gore Jr.
Robert A. Iger
Ronald D. Sugar
Susan L. Wagner