The number of women directors at major companies increased 50% from 2016 to 2019, according to the National Bureau of Economic Research.
The law, which went into effect in 2020, required California-based companies to appoint directors from underrepresented communities.
An new analysis of Fortune 500 companies finds that progress in diversifying corporate boards has been "painfully slow."
Take Your Seat CEO Jerusha Stewart on how barriers to networking contribute to a lack of diversity in corporate boardrooms.
The investment bank wants boards to include more people from chronically underrepresented groups.