Latinos are the second largest demographic inhabitants within the United States, however they’re vastly underrepresented on corporate boards, in response to a brand new report by the Latino Corporate Directors Association.
"Sixty-five percent of Fortune 1000 companies lack Latinos, and Latinos are seeing the least growth of any other group," Esther Aguilera, CEO of LCDA, informed CNBC at this week's L'Attitude Conference.
It's even worse for girls. According to the report, Latinas are have simply 1% of board seats on Fortune 500 firms
Latinos comprise almost 20% of the U.S. inhabitants and had been accountable for $2.7 trillion in financial output in 2020.
We contribute 25% of the nation's GDP and can contribute 78% of internet new employees to the workforce throughout this decade. This has to vary," Elizabeth Oliver-Farrow, chair of the Latino Corporate Directors Association, said in a release.
The Latino Corporate Directors Association, a membership-based organization of U.S. Latinos at the highest level of corporate leadership and corporate governance, was formed to increase U.S. Latino representation on corporate boards by raising visibility of the Hispanic talent primed for the boardroom.
"These are extraordinarily achieved people, who’ve led and grown enterprise on the corporate stage internationally and so they add extra worth and perception into new markets," Aguilera said.
While corporations still have a long ways to go, she said, they have seen some recent success.
On Wednesday, Nike announced that Monica Gil, chief administrative and marketing officer of NBCUniversal Telemundo Enterprises, would join its board.
"We had American Airlines, Apple and quite a bit of firms begin to get it. So the query turns into, 'Hey, these firms are stepping up," Aguilera said. "Where are the remaining?"
Disclosure: NBC Universal is the father or mother firm of CNBC.
primarily based on website supplies www.cnbc.com