• Home
  • Posts
  • Top Stories
  • Sec. of State Shirley Weber Releases Report Counting Women on California Corporate Boards

Sec. of State Shirley Weber Releases Report Counting Women on California Corporate Boards

| lafocus |

Quinci LeGardye | California Black Media

Last week, California Secretary of State Dr. Shirley Weber released the state’s third report counting the number of women on corporate boards in compliance with Senate Bill 826, which became law in September 2018.

The report found an increase in the number of women on the boards of publicly held corporations based in California. Each one has at least one woman on its board of directors. A total of 311 corporations are now in compliance with the law, up from 282 as documented in the March 2020 report.

“The continued growth of diversity among corporate leadership that is representative of California is important to ensuring an equitable economy and inclusive California,” Weber said. We are thrilled to see an increase in publicly held companies that have diversified their boards.”

The Women on Boards law, which was signed into law by Governor Jerry Brown in Sept. 2018, requires publicly held corporations whose principal executive offices are held in California to have a minimum of one female member on its board of directors. The bill also mandates that the minimum number to increase to two female directors if the corporation has five directors, or to three female directors if the corporation has six or more directors, by the end of 2021.

At the time of the law’s passing, one-fourth of publicly held corporations based in California had no women directors on their boards.

We continue to analyze the data that we have collected to date and are excited about the opportunity we have to educate corporations about the new requirements that take effect by the end of 2021,” said Weber, who was serving as an Assemblymember in the California Legislature representing the 79th district in the San Diego metropolitan area when the bill passed.

The information in the report is compiled from annual corporate filings with the California Secretary of State. As of January 2019, publicly-traded corporations’ disclosure statements to the Secretary of State have included a question on whether they are in compliance with the Women on Boards legislation.

This year is also the first reporting year for a similar law that requires more representation of people of color on corporate boards. Underrepresented Communities on Boards (AB 979), which was signed into law Sept. 2020, requires California-based publicly held corporations to have at least one board member from an under-represented group by the end of 2021.


lafocus

| lafocus |

More Coverage

Hundreds of Compton Residents Chosen for Guaranteed Income Program

Dianne Lugo Compton has joined in participating in a successful program to grant some of its residents a guaranteed i…

Pastor Tyron Robinson Named to Succeed Bishop Paul Morton

Staff Last year, nationally renowned pastor and gospel singer Bishop Paul S. Morton announced he would step down as s…

New Fund Will Grant $10,000 to Struggling Local Business Owners

Staff More relief for local Los Angeles small business owners is on the way. A new fund, the LA Regional COVID Fund, …

Probe Into Prison Deaths Ends Up Uncovering $8 Billion in Untracked State Money

Aldon Thomas Stiles | California Black Media What started out as an investigation into inmate deaths in some of Calif…

Despite Massively Successful Fundraising Efforts, Community Group Fails to Purchase Crenshaw Mall

Dianne Lugo The saga of the historic Baldwin Hills Crenshaw Plaza ownership continues with local Black community orga…

Hollywood Blvd Business Owners Will File Criminal Charges Against Protesters for Property Damage During Breonna Taylor Demonstration

By Stephen Oduntan Shattered glass dotted the pavement. Evidence of vandalism after violent confrontations between Lo…

A Call to Stop Hate: Asian Americans & Allies Held Vigil Demanding an End to Violence & Racism

By Stephen Oduntan A Black Lives Matter – South Pasadena activist came together with the San Gabriel Valley community…

Los Angeles County Announces Emergency COVID-19 Rental Relief Program

Staff The one-year anniversary of Los Angeles’ COVID-19 shutdown has come and gone, and for many, the ensuing financi…

Latest Politics

“Police Reform and Personal Responsibility”

One Down, Three to Go: How Will Chauvin Verdict Factor in Trials of Three Remaining Officers Charged in Death of George Floyd

California Elected Officials, Civic Leaders React to George Floyd Verdict

Derek Chauvin Chooses Not to Testify in His Defense [Video]

Judge Throws Out Joe Collins Lawsuit Against Maxine Waters


© Copyright 2021 - LA Focus Newspaper