Diversity in Corporate Ranks Targeted by Legislators

Federal and New Jersey state legislators are looking to promote diversity in corporate boards with new initiatives and proposed bills. Representative Maxine Waters (D-CA), the first woman and first African-American to chair the House Financial Services Committee, is planning to push for more women and minorities in the top ranks of corporate America. Waters has proposed creating a subcommittee focused on diversity and inclusion, and senior members of her committee are preparing to introduce bills to force companies to disclose the gender and racial makeup of their boards, reports Politico. In the New Jersey legislature, a new bill would require many public companies based in the state to have at least three women on the board by 2021. While some companies are reportedly “uneasy” at the prospect of government regulation of their hiring decisions, many admit the need for a “nudge” from Congress may force action. 

John Howell, Editorial Director