https://www.foxbusiness.com/business-le ... ersity-lawSACRAMENTO, Calif. — Hundreds of California-based corporations must have directorsfrom racial or sexual minorities on their boards under a first-in-the-nation bill signed Wednesday by Gov. Gavin Newsom.
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By the end of 2021, the more than 660 public corporations with California headquarters must have at least one board director from an “underrepresented community," according to the measure.Those who qualify would self-identify as Black, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native, or as gay, lesbian, bisexual or transgender.The measure requires at least two such directors by the end of 2022 on boards with four to nine directors. Three directors are required for boards with nine or more directors. Firms that don’t comply would face fines of $100,00 for first violations and $300,000 for repeated violations.
Well.. at least there is an easy loop hope. Not that any of the crazy companies in CA would want to. They are in fact fighting each-other to hire minorities in tech companies regardless of qualifications to hit an arbitrary self-set quota. The minorities are jumping from company to company taking pay raises each time. Idiocy.
