State Sen. Hannah-Beth Jackson said her bill is
already having a positive effect but respects the
right of anyone to file a challenge.
“I strongly believe — and significant research
has shown — that this is a policy that improves
a business’ performance and their bottom line,”
Jackson said in a statement, noting that many
companies have already voluntarily complied.
She said the last all-male board of the S&P 500
added a female director, “showing that diversity
is within our grasp, and there are women who
are highly qualified and eager to step up.”
The California Chamber of Commerce opposed
the measure, saying it would be difficult
for companies to implement and violates
constitutional prohibitions against discrimination.
The Pacific Legal Foundation’s lawsuit likely
comes too late to block this year’s deadline,
Boden said, but she’s hoping for a ruling before
corporations are required to include more
women by the end of 2021.
Boden argued that corporations are putting
more women on their boards even without the
law. She cited the Equilar Gender Diversity Index
by the executive data company, which shows
that women filled more than 40 percent of
director posts so far this year.
“We are actually near boardroom parity,” Boden
said. “We don’t need this law, which will actually
cast doubt on the reason behind future hires.”
The foundation said nearly two-thirds of its
funding comes from individuals, about a quarter
from foundations and the rest from associations,
businesses and others, and that no donations
— corporate or otherwise — go to support any
specific case.Image: Rich Pedroncelli