Latinas Least Represented by any Measure on Fortune 500 Boards: LCDA is Working to Change That

THE CALL FOR diversification of US public company boards has largely left out Latinas with a mere 59 seats on the Fortune 500 (F500). Latinas remain woefully underrepresented holding the least seats of any underrepresented group, and last year, received the least amount of new female board appointments and board appointments, overall. According to Deloitte's 2021 Missing Pieces Report, in 2020, White women held 1226 seats, Black women held 183 seats, and Asian women held 89 seats.

Latinas account for nine percent of the US population, yet are highly underrepresented in US boardroom leaving them dangerously disconnected from the multicultural marketplace. As corporations increase focus on Environmental, Social, and Corporate Governance (ESG), there is still a long way to go in achieving board diversity that includes Latinas. Based on an analysis of the raw data from ISS Corporate Solutions on the skills and experience of board members holding Fortune 500 board seats, women and minority board members currently are more likely than White men to bring experience with corporate sustainability and socially responsible

investing, government, sales and marketing, and technology in the workplace to their boards.

With the understanding that there is more work to be done, it is encouraging to see some of the largest US companies value the Latina perspective. As highlighted by the 2021 F500 appointments of Latina leaders by Apple: Monica Lozano; Expedia Group: Patricia Maria Menendez-Cambo; Biogen: Maria Freire; Keurig Dr Pepper: Debra Sandler; L Brands: Francis Hondal; Tyson Foods: Maria Claudia Borras; and WEC Energy Group: Cristina Garcia-Thomas.

As the trend toward diversity continues to expand and include Latinos, The Latino Corporate Directors Association (LCDA) is part of the solution. Bringing together some of the most respected and accomplished leaders in business, working to spotlight Latino leaders, and serving as a talent resource to board influencers including nominating and governance committees, search firms, private equity, and venture capital.

To learn more about LCDA, visit: latinocorporatedirectors.org