LOUIS MIRAMONTES- "THE TIME IS NOW, SO LET'S MARCH FORWARD, LET'S PREPARE AND SEIZE THE MOMENT."

Since he retired as a partner in the San Francisco office of the KPMG, he has been appointed to several boards, including two Fortune 500 companies, Rite Aid and Lithia Motors.

At the same time, he understands his accomplishments are not the norm for most Latinos. In fact, there is a lower proportion of Latinos in corporate governance compared to their share of the population and growing presence in the talent pool for these seats. "The number of Latinos coming across is not as many as I would expect and that it will take time and focused efforts to change this."

Miramontes said, "I want to grow the opportunity that I have had so other Latinos and other diverse individuals will have opportunity and so those who are not aware of our community, those who have doubts about our numbers and our capabilities, can see examples."

Similarly, Miramontes says he feels privileged to serve as a good example and a role model to Latinos who are starting on the path toward a role in company governance. "I want to be an effective, outstanding board member, so the average is not acceptable to me," he said. "We are in the board room, we are good and talented, but let's not be comfortable with that," said Miramontes, who has become a leader director and a committee chairman.

Miramontes said one of his strengths is that he is a good team player. "It is not about me, it is about organization," he said. He can see at least two benefits that diversity can provide to a company and its board of directors. One is understanding the markets a company is going to serve. "And if they want to address the Latino community, I know something about that," he said. The second is that Latinos can help a board develop a balance view of issues. "We are going to tell you our thoughts, offer suggestions and challenges and we will do it tactfully, and with our own style."

The path that Miramontes took to become a director for some major companies ran through four decades with KMPG as a CPA and was broadened by his rapport with clients, especially their top management. From becoming a partner with the firm in 1986, he continued to work with clients but also had contact with their directors. "I learned about the dynamics of board roles and conduct and came to understand how good ones work," he said. Miramontes personal goal became to gain seats on corporate boards after he retired from KPMG and he made sure his clients were aware of this.

Actually, he recognized that he was not going to get an invitation just because he "is smart and a Latino." He says, "That is OK but you have to express views, be proactive, share your personal goals."

Among the changes that Miramontes has observed in the corporate world is that among shareholders there is a lot of movement on ESGs and that companies have strategies about environmental, social topics, governance topics. "What boards are learning is that they need members who understand the social aspects, the diversity of our employees, the opportunity for employee training, their treatment," he said, adding, "I am well-schooled in all that." In addition, he says the employee experience is changing and companies will need to deal with a new normal, remote learning. He said it may take a few years.

Another challenge that he sees confronting boards of directors relates to changes in customer engagement with digital interaction becoming more mainstream. "Customer engagement has to be connected with a very thoughtful and aggressive digital strategy to reach customers online, or if they want to come to the physical store, online purchasing or paying," he said.

Miramontes sees those Latinos who make it to senior management and on to company boards as representing their heritage and providing a good example of what they can contribute. "So that the board, the leadership are saying that we are not only making money from you Latinos, but we are bringing you into to be leaders," he said. Part of the problem is that Latinos need to do a better job of promoting themselves, Miramontes said. "Our culture is very inner we don't brag about ourselves, we don't boast about ourselves, we let the work do the talking." he said. "It is disappointing that we are not gaining as fast we want to or should or we deserve to," he said, "but it will come in the next three to five years there will be more opportunities for Latinos due to a lot of board turnover.”