Despite Court Ruling, California AB 979 Significantly Reduced the Number of All White Boardrooms, but Unsuccessful in Adding Latino Directorships
WASHINGTON, May 19, 2022 /PRNewswire/ -- The Latino Corporate Directors Association (LCDA) released research documenting the successes and failures of California law AB 979 in its California Boardroom Equity Report: A Review of California Public Company Board Composition by Ethnicity, Race, and Gender.
- As of December 31, 2021, AB 979 has been successful in reducing the number of all white boardrooms by more than 20%.
- More than 85% of California company boards were in compliance with AB 979 on December 31, 2021, having at least one director from an underrepresented community.
- Nearly 80% of California public company boards lack a Latino director, even though 39% of California's population is Latino.
- Unlike their counterparts, Latino board seats increased less than 1%, from 2.1% to 3.0%, making the Latino community the most underrepresented in California boardrooms.