California Board Diversity Bill Irks SEC’s Peirce (1)

SEC Commissioner Hester Peirce took aim Sept. 21 at California legislation that would force public companies to put women on their boards, saying corporations should make their own decisions on gender diversity.

Peirce, a Republican, said in Irvine, Calif., that she supports diversity but not creating a law that mandates it on boards. The bill, which would apply to California-based companies, cleared the state Legislature in August and still needs the signature of Gov. Jerry Brown (D) to become law. California would become the first state in the country to require gender-diverse boards.

”Counting the number of female directors may ...