According to the California Secretary of State's Women on Board report, 22 publicly held corporations moved their principal executive offices out of California. These data were based on a comparison of annual reports filed in 2019 to the annual reports filed in 2020. I was curious about where these corporations went. It turns out that Texas was the big winner, garnering a nearly 32% share of California's "flight of the wild geese":
The Secretary of State's report provides no explanation for these relocations, not could it. Nonetheless, the decline in publicly held corporations locating their principal executive offices in California should be a cause for concern, especially if the flight continues.