Media Alert: CEO of Leading California Women's Business Organization Comments on New Board Composition Legislation

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Watermark CEO Marilyn Nagel on California State Senate Resolution 62

MEDIA ALERT: California State Senate approved a resolution Monday proposed by Senator Hannah-Beth Jackson (D-Santa Barbara) to encourage publicly held companies to have more women on their boards of directors.

This legislation was based on research conducted by the University of California, Davis, in partnership with Watermark, a community of executive women who come together to connect, develop and advocate for one another. UC Davis and Watermark published their annual Study of California Women Business Leaders which was integral in the creation of Resolution 62. The study is a census and report on the status of women on boards and in top positions in Fortune 400 companies in California.

“We are gratified that our work with UC Davis has provided the foundational data that led to a breakthrough in legislation passed in the California State Senate just days ago, and hope that this model spreads to other parts of the country,” said Watermark CEO Marilyn Nagel. “While we know that there remains much debate over the idea of gender quotas in the boardroom—and we agree that quotas are not the solution—it is clear we must take some action, since simply reporting the dismal numbers has not yielded any change. Resolution 62 takes that next step in ‘encouraging’ California companies to have equitable and diverse gender representation.”

Marilyn Nagel is available for further comment. Please contact:

Catherine Kim
Communications Director
Watermark
catherine(at)wearewatermark(dot)org
510.366.5869

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