Female Board Members - Social Environment

  September 21, 2018

As diversity among board members has become an initiative for many U.S. public companies, individual states are revisiting the current make up of boards and how best to instill diversification.

This past month, California implemented a minimum number of women on boards of publicly traded companies headquartered in the state. California would be the first state to mandate such a requirement and is expected to possibly set a new standard across the corporate world.

Currently, women comprise over 19 percent of board seats on publicly traded companies in the Fortune 1000 according to 2020 Women on Boards, a non profit entity. California is headquarters to 86 public companies in the Russell 3000 Index that report not having any women on their boards. The state is also home to several highly influential technology companies.

European governments, specifically the Scandinavian countries of Norway, Iceland, Finland and Sweden, have all had mandated quotas for women on boards for sometime. Companies headquartered in the Scandinavian countries have female representation on corporate boards upwards of 30%.

Sources: Russell, 202 Women on Boards, http://www.leginfo.legislature.ca.gov

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