California upholds sacred gender diversity rights!
(cue 100% male boards of guys wearing english powdered wigs saying they comply with the law)
August 10th, 2018 5:34pm
"California corporate boards with five or fewer directors must have a quota of at least two self-identifying females. Corporations with six or more board members must have at three least self-identifying females."
August 10th, 2018 5:35pm
Let's break this down.
"five or fewer directors must have a quota of at least two self-identifying females"
One director: both must be female
Two directors: both must be female
Three directors: 2/3 must be female
Four directors: 2/4 must be female
Five directors: 2/5 must be female
August 10th, 2018 5:36pm
Fines are: "triple the annual average compensation of the directors".
August 10th, 2018 5:37pm
Commiefornia strikes again.
August 10th, 2018 5:57pm
I think it only applies to companies with a HQ in California or incorporated in California. So they're all going to be incorporated in Delaware or have a 2 person "HQ" in another state.
August 11th, 2018 1:13pm