The company logo for BlackRock is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid
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A new California law requires most companies in the state to have at least one woman on their boards of directors by the end of this year.According to a new Bloomberg analysis, this sea change could offer women 692 seats at the table, enough to cause a measurable shift in the gender balance of U.S. company boards overall.If every state were to adopt California's lead, U.S. companies in the Russell 3000 would need to open up 3,732 board seats for women within a few years.Most Russell 3000 companies are incorporated in Delaware, including 83 percent of those headquartered in California.In the utility industry, where one-quarter of board members are women, including the CEOs of Duke Energy Corp., CMS Energy Corp. and PNM Resources Inc., the collective boards would have to fill only 43 additional board seats with women to meet the full California requirements.Among the new directors appointed at Russell 3000 companies last year, nearly 44 percent are women, pushing the overall share to about 18 percent.Almost 1,800 of the companies analyzed by Bloomberg are incorporated in the state, or 62 percent.
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