Home Business More than 60% of Fortune 1000 company boards lack Latin American representation

More than 60% of Fortune 1000 company boards lack Latin American representation

by SuperiorInvest

Latinos are the second largest demographic in the United States, but they are significantly underrepresented on corporate boards, according to a new report from the Latino Corporate Directors Association.

“Sixty-five percent of Fortune 1000 companies lack Latinos, and Latinos are seeing the least growth of any other group,” LCDA CEO Esther Aguilera told CNBC. L’Attitude Conference.

It’s even worse for women. According to the report, Latinas hold just 1% of the board seats of Fortune 500 companies

Latinos make up nearly 20% of the US population and were responsible for $2.7 trillion in economic output in 2020.

We contribute 25% to the country’s GDP and will contribute 78% of net new workers to the workforce this decade. That has to change,” Elizabeth Oliver-Farrow, president of the Latino Corporate Directors Association, said in the report.

The Latino Corporate Directors Associationa membership organization of U.S. Latinos at the highest levels of corporate leadership and governance, was founded to increase U.S. Latino representation on corporate boards by increasing the visibility of boardroom-ready Hispanic talent.

“They are extremely experienced individuals who have led and grown the business at the enterprise level internationally and add additional value and insight into new markets,” said Aguilera.

While corporations still have a long way to go, she says they have seen some success recently.

On Wednesday, Nike announced that Monica Gil, chief administrative and marketing officer of NBCUniversal Telemundo Enterprises, would join its board of directors.

“We’ve had American Airlines, Apple and a lot of companies starting to get it. So the question is, ‘Hey, these companies are stepping up,'” Aguilera said. “Where are the others?”

Disclosure: NBC Universal is the parent company of CNBC.

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