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Demovictory9

(32,449 posts)
Wed Sep 29, 2021, 08:38 AM Sep 2021

California outlawed the all-white-male boardroom. That move is reshaping corporate America

The state’s requirements that publicly traded corporations diversify their boardrooms were ridiculed as quixotic by conservative columnists and some corporate chieftains. The courts are still threatening to erase the quotas, the first of which were signed into law in 2018.


But California is having the last laugh. Even as the mandates on women and people of color have become a flashpoint in the culture wars, companies across the country are embracing California’s boardroom diversity directives. Women now control more than a quarter of corporate board seats nationwide — 50% more than they did before the 2018 California law requiring women on boards was passed. Companies are also scrambling to recruit people of color as other diversity mandates begin to take effect.

The state’s crusade is reshaping the corporate boardroom, an institution that for decades refused to evolve — and which guides the direction, culture and financial stewardship of public companies. Even as the courts signal the new rules could collapse legally, the requirements that every public company headquartered in the state have women and members of traditionally underrepresented groups on its board are driving hundreds of companies to make room at the top — and inspiring other states and federal regulators to join California’s push.

“The ripple effect has gone across the nation,” said Betsy Berkhemer-Credaire, chief executive of the Los Angeles-based advocacy group 50/50 Women on Boards. She predicts that within a decade, “it will be quite an anachronism to remember when corporations had all-white-male boards.”

https://www.latimes.com/politics/story/2021-09-29/california-outlawed-boardrooms-with-no-women-the-impact-on-corporate-america-was-profound

22 replies = new reply since forum marked as read
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California outlawed the all-white-male boardroom. That move is reshaping corporate America (Original Post) Demovictory9 Sep 2021 OP
Fantastic Johnny2X2X Sep 2021 #1
See how a little control and regulation over corporations Farmer-Rick Sep 2021 #2
Decades of our secret meetings in the Ladies Rooms are paying off! Ilsa Sep 2021 #3
You made me think of this BumRushDaShow Sep 2021 #5
So that's why there are such long lines for the ladies rooms IronLionZion Sep 2021 #12
Even if the courts eventually overturn it, there will be no turning back. lagomorph777 Sep 2021 #4
And some day soon we WILL get another RBG on the High Court. Tommymac Sep 2021 #10
Now maybe we can get union representation on BoDs paleotn Sep 2021 #6
Now that is a dream worth pursuing. Tommymac Sep 2021 #11
Once again California leads... orwell Sep 2021 #7
What about LGBT? Seems they are always excluded in these type rules. Better fix it! rkleinberger Sep 2021 #8
The Oxen are slow, but the Earth is Patient Tommymac Sep 2021 #13
For corporations that manufacture something geardaddy Sep 2021 #9
Let's hope they ignore Germany altogether DFW Sep 2021 #15
Yeah, that's a huge problem geardaddy Sep 2021 #16
That's not unusual here in Europe DFW Sep 2021 #19
Thanks for the explanation. geardaddy Sep 2021 #21
I guess someone finally saw Putney Swope? DFW Sep 2021 #14
Beat me to it lame54 Sep 2021 #18
Absolutely one of the coolest films I ever saw DFW Sep 2021 #20
The dubbed voice takes it next level weirdness lame54 Sep 2021 #22
Putney Swope lame54 Sep 2021 #17

Johnny2X2X

(19,059 posts)
1. Fantastic
Wed Sep 29, 2021, 08:51 AM
Sep 2021

Women now make up a majority of college graduates, it's about time they start shaping corporate America more. Board seats are the ultimate cronyism handouts, about time we ensure some diversity in the boardroom to strengthen our corporations.

Farmer-Rick

(10,163 posts)
2. See how a little control and regulation over corporations
Wed Sep 29, 2021, 09:18 AM
Sep 2021

Can make a big impact for a better world.

Just imagine what a peaceful world we could have if huge amounts of taxes and strict regulatory control on corporations were implemented.

Ilsa

(61,694 posts)
3. Decades of our secret meetings in the Ladies Rooms are paying off!
Wed Sep 29, 2021, 09:33 AM
Sep 2021

Those dimes and quarters we paid as dues** really paid off!

**--Ted Baxter, Mary Tyler Moore Show, voicing his conspiracy theory about women going to the bathroom together.

BumRushDaShow

(128,895 posts)
5. You made me think of this
Wed Sep 29, 2021, 09:45 AM
Sep 2021

(I remember when this song came out but didn't even know there was a video for it )



lagomorph777

(30,613 posts)
4. Even if the courts eventually overturn it, there will be no turning back.
Wed Sep 29, 2021, 09:34 AM
Sep 2021

There'll be more women and minorities in charge, and they'll be making the decisions on hiring, going forward.

Also, I expect that the early adopters will find they have a competitive advantage resulting from a more creative and diverse group mind.

Tommymac

(7,263 posts)
10. And some day soon we WILL get another RBG on the High Court.
Wed Sep 29, 2021, 11:26 AM
Sep 2021

Not the corrupt unqualified handmaiden who occupies her seat now.

It's going to happen whether the Movement Conservative like it or not.

Mark my words.


geardaddy

(24,926 posts)
9. For corporations that manufacture something
Wed Sep 29, 2021, 11:16 AM
Sep 2021

they should also look to Germany's law, which requires half of the board of directors contain seats for the labor representatives.

DFW

(54,365 posts)
15. Let's hope they ignore Germany altogether
Wed Sep 29, 2021, 01:33 PM
Sep 2021

Here in Germany, sitting members of parliament are allowed to sit in on the boards of corporations. Why this hasn't been dumped is beyond me, but it is still the law here. How would we like it in the States if Lauren Boebert was allowed to be a member of Congress and on the board of Remington Firearms at the same time?

geardaddy

(24,926 posts)
16. Yeah, that's a huge problem
Wed Sep 29, 2021, 04:00 PM
Sep 2021

Thanks for the correction.
But what about worker representation on the boards?

DFW

(54,365 posts)
19. That's not unusual here in Europe
Wed Sep 29, 2021, 05:04 PM
Sep 2021

It still doesn't mean they get their way. It only means they can get heard. The laws that protect workers from egregious exploitation are already on the books, so their representation is not of the sort of clout it would be if they were the last line of defense.

DFW

(54,365 posts)
20. Absolutely one of the coolest films I ever saw
Wed Sep 29, 2021, 05:13 PM
Sep 2021

My roomies got me to see it in my freshman year of college (1970-71). I had never heard of it, of course, but I'm white and they were black, so they always knew about stuff like that (same with Sweetback) and kept me in the loop. One thing that none of us ever knew was that Downey Sr. had dubbed in the voice of Swope!

Truth and Soul, Inc.!

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