California Requires Board Diversity and Additional Company Disclosures
On September 30, 2020, California Governor Gavin Newsom signed a bill into law requiring publicly held corporations to further diversify their boards of directors. He also signed a bill requiring that corporations and limited liability companies make additional disclosures.
Assembly Bill 979 (AB 979) adds Section 301.4 to the California Corporations Code. This Section requires corporations to have at least one director from an underrepresented community on their boards of directors by the close of…