CA acts to increase diversity on corporate boards
California is moving closer to a first-in-the-nation law requiring corporate boards to include racial or sexual minorities, expanding on a new law that sets a similar requirement for including women directors.
SACRAMENTO, Calif. -- California is moving closer to a first-in-the-nation law requiring corporate boards to include racial or sexual minorities, expanding on a new law that sets a similar requirement for including women directors.
The diversity bill, approved by the Senate on Saturday, would require California-based public corporations to have one board director from an underrepresented community by the end of 2021.
It returns to the Assembly for a final vote. Those who qualify would self-identify as Black, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native, or as gay, lesbian, bisexual, or transgender.
In a 2019 study from WalletHub, researchers found California is the most diverse state in the nation.
The study looked at six different aspects including socio-economic, cultural, household and religious diversity.
RELATED: California the most diverse state in the nation, study says
The Associated Press contributed to this report.
