Diversity, a driver for change & success
Gilbert Dávila, Director, Cracker Barrel Old Country Store, Inc.
How did your journey as a Board Trustee/ Director begin?
Becoming a Board member for a publicly traded company became part of my 25-year plan when I started my professional career with P&G back in the mid-80s. Back then, I used to sift through countless annual reports and developed a great admiration for Board members largely because of their professional accomplishments as well as their significant responsibility and accountability to work with management to help drive shareholder value. Not seeing anyone who looked like me back then doubled my resolve to attain that goal and hopefully serve as an inspiration for other Latinos to believe they could also be elected to serve. To gain experience, I served on profit and non-profit Boards, but I am particularly proud of having been elected to serve on the Cracker Barrel Board. Cracker Barrel is a favorite brand that has been “pleasing people” for over 50 years and employs over 70,000. I am honored to serve for such a company.
How different/challenging is the role of a Corporate Director, as opposed to a C-suite executive?
I would first start by indicating the similarity. Both groups (Directors and C-suite) drive toward a common goal – to work hard as a team to grow the business and increase shareholder value. Board members have a fiduciary responsibility to shareholders by ensuring it institutes and executes proper governance of the company. It is the management’s responsibility to “manage the business.” It is both an exciting and challenging time to serve on the Board of publicly traded companies. The pandemic, fast-paced technological changes and unstable economic times have forced Boards to rethink their go-to-market strategies and seek out different kinds of expertise.
What have been some of the challenges you have faced while advancing in corporate America?
Over 25 years, I had the great fortune and pleasure of working as an executive with some of America’s biggest and finest companies: P&G, Coca-Cola, and The Walt Disney Company, among others. I was lucky to work with exceptional executives who believed in me and mentored me along the way. I do know of many people who were not as lucky. While I was able to ascend to the senior executive ranks, it did not come easy. I always felt that I needed to work twice as hard and deliver outsized results to prove my worth.
In your opinion, which should be the top priorities for a corporate Trustee/Director to maximize efficiency and support the Board/Company?
Board diversity goes well beyond race, gender, and identity. Boards today are looking to add “subject matter experts” who extend well beyond traditional Board roles. I believe, in my case, I have been able to contribute to areas of broad marketing, including how to better connect authentically with Multicultural and diverse segments as well as help define brand purpose. Prioritizing culture in our communications is key to helping drive sales lifts. Issues of human capital, workforce and systems transformation as well as keeping pace with an ever-changing landscape are also being prioritized in corporate Boards. We’re inching forward, but there is a lot of work ahead.
In your opinion, how are companies benefited from having a diverse board?
It does not take long for a Board to reap the benefits of becoming more diverse. Boards are being refreshed with new and often diverse Directors who are adding new skills and perspectives like never before. Diversity often elevates thinking, creativity, problem solution and business results. Diversity also shows you care for all your constituencies, which is another dimension I admire about Cracker Barrel. Cracker Barrel’s focus on care is infused in everything it does, as we work to represent the communities in which we do business, including through our talent partnerships, employee development, recruiting and training, internal communications and how we treat each other daily.
What would be your advice for the next generations of Latinos wanting to advance onto corporate seats?
I take pride in coaching and mentoring a new generation of Latinos in their efforts to rise in corporate ranks. While I am optimistic to see a growing number of Latinos getting ready to earn well-deserved promotions to the most senior levels and be considered to join Boards, we are still a long road away from reaching a more equitable marketplace.
** Higlighlight box:
Gilbert’s advice for the next generation of Latinos:
Work hard throughout your career to develop a consistent track record of superior results
Consider yourself a “brand”
“Put yourself out there” both internally and externally by building a strong network of allies
Unabashedly, seek out coaching and mentoring
Write a long-term plan of how you intend to achieve your goals and monitor progress over time
Join smaller Boards (both non-profits and for-profits) and move your way up.
**photo credit: DMI Consulting