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Castro pushes measure to put more women on executive boards

castro 013019SPRINGFIELD – Under a new proposal recently introduced by Senator Cristina Castro (Elgin-D), Illinois could see more women in the boardroom.

Senate Bill 76 would require every publicly held domestic or foreign corporation whose executive offices are in Illinois to have a minimum of one woman on its board of directors.

 

“Having a diverse board is good for business,” Castro said. “Women are largely underrepresented in the boardroom and it’s time for that to change.”

If passed and signed into law, all boards would need to meet this new requirement by July 31, 2020. If a corporation doesn’t comply, it could be fined $100,000 the first time and for subsequent offenses it could be fined $300,000.

Sen. Cristina Castro

Senator Cristina Castro

22nd Senate District

Years served: 2017 - Present

Committee assignments: Appropriations I; Commerce and Economic Development; Committee of the Whole; Energy and Public Utilities; Labor; Revenue (Vice-Chairperson); Transportation; Veterans Affairs (Chairperson).

Associated Representative(s):
Anna Moeller
Fred Crespo