MSCI Counsel Outlines How To Navigate Differing State Diversity Standards
In Illinois, for example, the article explains that boards of publicly owned companies are required to disclose female and minority board membership, as well as how they identify and appoint those members. A law in California goes even further, “mandating that boards have at least one woman, as well as a certain number of directors from underrepresented racial, ethnic, or LGBT communities.”
McCareins told Kellogg Insight, “Because there’s such a patchwork of inconsistent state statutes—and because many of these statutes are looking at different kinds of diversity—it’s very hard, from a compliance standpoint, to figure out a one-size-fits-all answer.” To help navigate the differing standards, McCareins outlined certain things that companies should understand about the evolving legal landscape. Read the full article here.
McCareins is codirector of Kellogg’s JDMBA program and a clinical professor of business law.