Illinois governor signs law on corporate board diversity

Illinois Governor J.B. Pritzker

CHICAGO – A proposal aimed at improving the representation of women and minorities on corporate boards in Illinois has been signed into law.

Publicly-traded companies must now report the demographics of their boards and plans for promoting diversity to the Illinois Secretary of State’s Office annually. The University of Illinois will study the data and publish a yearly report starting in 2021.

Gov. J.B. Pritzker signed the law Tuesday.

Critics say the bill doesn’t go far enough. It was pared back from a previous version requiring companies to have diverse boards.

Pritzker says the bill still advances the cause because the information is needed to assess companies. The billionaire Chicago businessman says “shining a light” on the issue is important and that can’t happen without data.

___

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.