Big-Name Company Exodus in Illinois: How Companies Leaving Illinois Affects the State and Its Future Outlook
Several big-name companies, corporations with recognizable names, headquartered in Illinois are exiting the state in mass numbers for a variety of reasons. This blog discusses the impacts and outlook for Illinois as this corporation exodus affects the state’s revenue streams. It also looks at how lawmakers, in-house lawyers, and internal compliance teams can keep companies in Illinois.
Earlier this summer, Ken Griffin, CEO of Chicago’s largest hedge fund, Citadel, announced that it is moving the firm’s headquarters to Miami. This news follows the departure of several other companies that were headquartered in Chicago like Boeing, Caterpillar, and grocery stores like Aldi.
California to Corporations: No More Male-Only Boards
California Governor Jerry Brown signed a historic bill on September 30 that mandates every publicly held corporation whose principal offices are located in California to have a representative number of women on its board of directors. In a letter announcing Senate Bill 826, Governor Brown admits that there are serious legal concerns to the bill and that its potential flaws could “prove fatal to its ultimate implementation” but that it is time to force action regarding the lack of gender diversity on company boards.