WOMEN ON BOARDS
Women hold just 22.6% of Russell 3000 board seats
WHAT YOU NEED TO KNOW
In 2018, State Senator Hannah Beth Jackson passed and Governor Jerry Brown enacted SB826, a first-in-the-nation law requiring publicly-traded companies with California headquarters to have at least one woman on their board of directors. By January 1, 2022, the law requires that boards of six or more directors have at least three women, and boards of five have at least two. Our data shows that at least 563 women need to be added to California public company boards by the end of 2021 to fulfill the gender requirement of the law.
The law was based on numerous studies showing that companies with female directors are more profitable. Other studies demonstrate additional benefits to having more than one woman on a corporate board, such as improved crisis management, sustainability practices, workforce engagement, and greater resilience during the 2008 recession.
In order to understand the effects of this pioneering law, the California Partners Project is tracking the progress of women's representation on California's public company boards through a series of comprehensive progress reports. Through data collection and tracking, we can ensure that the law’s impacts are accurately measured, widely understood, and celebrated.
Our reports show that California's law is working in adding more women to California’s public company boards, but our companies are still missing out on talent by overlooking women of color. In 2018, nearly 30% of California's public company boards were all male; now, less than 2% are. Yet, women of color hold only 6.6% of California’s public company board seats even though females of color comprise 32% of the state’s population.
The same strategies that have led to the sea change in gender representation on California’s public company boards must now be deployed to bring women of color to the board room. We all have a vested interest in diversifying these bodies so that our companies harness the talent and unique approach diverse women bring to their roles.
CALIFORNIA PUBLIC COMPANY BOARDS
4,116
Board seats held by men
1,483
Board seats held by women
563+
Women needed by 2022
DIG DEEPER
INSPIRATION
2020 Women on Boards Gender Diversity Directory
2020 Women on Boards tracks, analyzes and publishes the gender composition of the boards of directors of Russell 3000 companies, the largest US-traded stocks.
All Our Talent: Women on Boards & Commissions Landscape Report
A landscape analysis on the state of women on boards and commissions locally and the disparities and barriers in our region’s leadership.
RESEARCH & INSIGHTS
Deloitte Board Diversity Census
This study examines and chronicles the representation of women and minorities on public company boards of directors across America’s largest companies.
Discover LCDA Latino Board Tracker
Currently, 75% of Fortune 1000 companies lack a single Latino director on their board. Use this tracker to discover which companies do and don’t have Latino/as on their boards.
EVENTS
WOB 2020 Sacramento Conversation on Board Diversity
Be part of the conversation to discuss why gender balance and diversity matters and the impact we can make to advance more women to corporate boards.
December 2, 2020, 8:00:00 PM
