Women On Boards: New Law Could Shape The Makeup Of CRE Boardrooms
Real Estate Partner and CREW San Francisco President Stacie Andra Goeddel was interviewed by Bisnow on the new California law SB 826, which requires every publicly traded company with headquarters in California to have at least one woman on its board of directors by 2019. By 2021, boards with five members must have at least two female members and boards with six or more members must have at least three female members. California's publicly traded commercial real estate (CRE) companies will not feel the impacts as much in the first year as several CRE companies have been trying to diversify their boards due to client demands and research data that shows the benefits of having a diverse board. Ms. Goeddel believes that this type of law could catch on in other states, as most progressive laws start in California. The law will help increase diversity and women's voices in business decisions, but will also work to bring about more equality at work by addressing child care needs and the gender pay gap issues that can hinder women.
“The conversation should not end here; while this is a very positive development, there are other policy problems with women and inequity,” said Ms. Goeddel.
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