(1) It's sexist in an attempt to solve sexism in the same way that affirmative action is racist in an attempt to solve racism. Sometimes, the ends justify the means. Unless you believe that only old white men are capable of being on the board you should ask yourself why only old white men are on the board. What is it about society, or the system, that has gotten us to where we are? What if we tried this and see what happens? If it doesn't work maybe let's roll it back? I do know for sure doing nothing won't change anything, at least based on the trendline.
It's really easy to sit there and say this law is sexist if you stand to benefit from the status quo. I'm not sure you do, I know nothing about you - this is an observation in general.
(2) We can have two problems. That doesn't mean we shouldn't try to solve one. This is akin to the argument that California should be dealing with the homeless instead of banning straws. It should be, and is, doing both. We can have two problems. We can work on multiple problems simultaneously. And having two problems isn't a license to sit on your hands and do nothing until you have a way to solve both at the same time. Further, if this works remarkably well in some way maybe it'll be a good template for future change? Or a lesson as to why we shouldn't do it this way.