The Massachusetts legislature recently passed a resolution encouraging all companies doing business in Massachusetts to adopt policies and practices designed to increase the gender diversity in their boards of directors and senior management groups.
The resolution cites reports that substantiate the correlation between greater gender diversity in top management and enhanced corporate performance and points out that women hold only 14.9% of the board seats and 11.8% of executive officer positions in the 100 largest public companies in Massachusetts. The resolution further concludes that “all corporate boards with nine or more members should have a minimum of three women directors; all boards with fewer than nine members should have a minimum of two women directors”.
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