California corporations will now be required to have at least one director from an under-represented minority by 2021, due to the passage of a new bill (AB-979). As previously reported by the Center, the bill amends California’s 2018 regulation (requiring female representation on publicly traded boards headquartered in the state) to also require minority representation. The bill went through several modifications prior to passage; although it originally defined “under-represented minority” to mean African-American, Hispanic or Native American, the final version defines this category as “Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian, or Alaska Native, or [an individual] who self-identifies as gay, lesbian, bisexual, or transgender.”
- Three, if the board has nine or more directors;
- Two, if the board has between four and eight directors; and
- One, if the board has fewer than four directors.