HR 439: Illinois Encourages Diversity on Boards of Directors
Summary
Illinois adopted House Resolution 439 in 2015 stating that the State of Illinois encourages "equitable and diverse gender representation on corporate boards of directors and urge[s] that, within the next 3 years: (1) every publicly held corporation in Illinois with 9 or more seats on its board of directors have a minimum of 3 women on its board; (2) every publicly held corporation in Illinois with at least 5 but fewer than 9 seats on its board of directors have a minimum of 2 women on its board; and (3) every publicly held corporation in Illinois with fewer than 5 seats on its board of directors have a minimum of one woman on its board.”
The resolution cites numerous academic and industry studies to conclude that companies with at least three women on the board tend to financially out-perform peer companies with fewer or no women on the board.
Impacted Sectors
Additional Information
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