California imposes racial quotas on corporate boards

“…California’s legislature is mandating racial quotas for corporate boards. “Experts say” that “runs afoul of constitutional principles,” according to the Wall Street Journal. “New legislation passed over the weekend would mandate that publicly-traded companies headquartered in the state must have at least one director from a minority community by the close of 2021. There are more than 500 public companies based in California in the Russell 3000, which accounts for the vast majority of companies.”

By 2022, the quotas will increase. Firms will be required to have at least 3 minority directors if their board has 9 or more directors, or at least two minorities if their board has between 5 and 8 directors.

The legislation is indeed unconstitutional. The bill, AB-979, is described as promoting “racial diversity.”…”