PRESIDENT OF YMR CONSULTING, BOARD DIRECTOR FOR MITRE

LATINO BOARD DIRECTORS DIALOGUE…

YVETTE MELÉNDEZ is a former healthcare policy executive, with more than 30 years of experience leading large government agencies, educational institutions and non-profit organizations. She has served on the boards of directors of various local, national and international organizations. She was appointed to the Board of Regents for Higher Education in 2011 and serves as the board’s vice chair, and a member of the board's Human Resources & Administration and Executive Committees. She is board chair of The Hartford Foundation for Public Giving, and vice chair of the State Board of Regents for Higher Education. Meléndez holds a bachelor's degree from Brooklyn College of the City University of New York, and a master's in management from Rensselaer Polytechnic Institute.

Latino Leaders: How did your journey as a Board Trustee/Director begin?

Yvette Melendez: My engagement as a Trustee/Director began early in my career with my involvement in the nonprofit sector where I served on various boards ranging from national and international advocacy, the arts (as a museum trustee), philanthropic foundations, and higher education. I saw these as not only opportunities for civic engagement, but as a way to bring my voice as a Latina to important social, cultural, and public institutions. I believe that the voice of a board director can have profound influence on corporate policy, strategy, and impact. My broad multi-sector career led me to want to have this same influence on corporate strategy and success.

Latino Leaders: How different/challenging is the role of a Corporate

Director, as opposed to being a C-Suite executive?

YM: The board and its directors have traditionally had overall responsibility for overseeing strategy, company performance, approving policy, and maintaining the interests of external stakeholders. Executive management has been accountable for operational performance, decisions, and policy implementation. This model is now more nuanced and complex for both the Corporate Director and the executive. Today, there are mega trends such as demographic shifts, exponential changes in technology, hyper transparency, geopolitical instability and increased social activism, making the role of the Corporate Director ever more challenging. Board Trustees/Directors must employ heightened engagement in its oversight and utilize their skills and commitment to the company to provide meaningful advice to executive management that will assess risk and ensure company success.

Latino Leaders: Which should be the top priorities for a

Corporate Trustee/Director to maximize efficiency and support the Board/Company?

YM: Board members' priorities should focus on some established roles and responsibilities such as CEO evaluation and succession planning, strategic oversight, risk oversight, and board governance and effectiveness. However, the current shifting environment and responses to the pandemic, demand that board members also focus on enterprise resiliency, workforce transformation, and that they lead on issues of diversity, equity, and inclusion. The onset of the pandemic has accelerated operational changes and the way companies must do business and how board members engage. It has brought about tremendous opportunities for enhanced collaboration with management on key board priorities.

For the coming years, board members will continue to face demands for talent acquisition, innovative thinking, diverse competencies, and stronger governance practices. Boards need to address culture as a strategic asset, strategically prepare for growth in an uncertain environment, and ensure that board effectiveness is a key priority for the company.