California Governor OKs Bill Mandating Corporate Board Diversity

California Gov. Gavin Newsom (D) signed a bill Wednesday requiring public companies to include a minimum number of women and people of color on their boards of directors.

“This is an opportunity, really, to get people of color at the table where the decisions are made, where the culture is set,” Assemblymember Chris Holden (D), the bill’s author, said at the bill signing ceremony.

Under the measure (AB 979):

• Holden said that two California companies, the Hewlett-Packard Co. and Bloom Energy, are already on track to meet the bill’s objectives.
• At least three members of boards with at ...