bizwomen THE BUSINESS JOURNALS
Caitlin Mullen, Contributor
Massachusetts could become the second state to mandate more women join public company boards of directors.
A new study highlights the gender power gap in Massachusetts, where legislators are considering a proposal akin to California’s law requiring female representation on boards of directors.
Just one company — childcare provider Bright Horizons — among the 25 largest firms in Massachusetts has achieved gender parity across all leadership, and only one company — Insulet, a medical device company — has a woman CEO, according to a report from the Eos Foundation, reports WBUR.
The report comes after last year’s introduction of a bill that would require boards of public companies based in the state to have at least one woman member by the close of 2021, reports the Worcester Business Journal.
By 2023, boards with five or fewer seats would need to count two women members, and boards with six or more spots would need three women, similar to California’s requirements proportional to board size. Those not in compliance with the law would face fines as great as $100,000.
