California has a new law: No more all-male boards

Julia Carpenter and Jackie Wattles for CNN reports:

Companies headquartered in California can no longer have all-male boards.
That’s according to a new law, enacted Sunday, which requires publicly traded firms in the state to place at least one woman on their board of directors by the end of 2019 — or face a penalty.
It also requires companies with five directors to add two women by the end of 2021, and companies with six or more directors to add at least three more women by the end of the same year.
It’s the first such law on the books in the United States, though similar measures are common in European countries.

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