An article in Inside Counsel points out the lack of progress in Hispanic representation in US Corporate Leadership. According to the 2013 Corporate Governance Study (CGS) by the Hispanic Association on Corporate Responsibility (HACR) only 10 Fortune 500 CEO’s are Hispanic. The CGS study shows that “Latinos hold a mere 37 out of 5,511 board seats in the Fortune 500… accounting for merely 3 percent of seats in the boardroom”
Carlos F. Orta, president and CEO of HACR critiqued some of the US’ most prominent companies for their exclusion of Hispanic leaders. In a statement Orta said that “companies such as American Express, Apple, ExxonMobil and Sears should be embarrassed their boards exclude Hispanics despite a demographic of 60 million consumers with a buying power of $1.3 trillion.”
Including Hispanics in positions of leaderships is not only about playing the part of an inclusive, diverse company. It goes far beyond appearances, just think about the cultural insights and different perspectives that are missed when a company’s decision makers represent only a fraction of their consumers. If consumers showcase cultural diversity it is senseless that decision makers responsible for wooing those consumers don’t mirror that same cultural composition.
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