- September 30, 2021
- Posted by: Stratford Team
- Category: Business
Most California public companies had at least one woman on their board by 2020, but two lawsuits are challenging the law.
By Betty T. Yee, Special to CalMatters
Betty T. Yee is the California State Controller.
Change is easier for some than others. It’s true of California companies that have refused to add female directors to their boards, as required under SB 826, a 2018 law that requires all public companies headquartered in California to appoint women to their boards.
Although the KPMG Board Leadership Center found that 96% of all California public companies had at least one woman on their board by the end of 2019, a few holdouts have filed two lawsuits questioning the law’s constitutionality, citing “sex-based discrimination.” These suits were initially thrown out but three 9th U.S. Circuit Court of Appeals judges acted to reinstate them in June.
This decision is bad…