2023 Latino Board Monitor Reports Progress in Latino Representation on Fortune 500 and Fortune 1000 Company Boards

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LATINO CORPORATE DIRECTORS ASSOCIATION

Sep 28, 2023, 11:18 ET

WASHINGTON, Sept. 28, 2023 /PRNewswire/ -- The Latino Corporate Directors Association (LCDA) announces the release of its latest report, the 2023 Latino Board Monitor, revealing an increase of Latino board representation by 1% on Fortune 500 boards and 0.8% on Fortune 1000 boards—a notable achievement, and one of the most significant increases since 2020. Still concerning, by 2060, Latinos are expected to be 27.5% of the US population and only 9.2% of Fortune 500 board seats.

Now in its third year, the 2023 Latino Board Monitor provides valuable insights into the promising trajectory for Latino representation on corporate boards, with substantial improvements over the past three years. As part of LCDA's commitment to develop, support, and increase the number of US Hispanic/Latinos on corporate boards, the organization played a pivotal role in these advances, resulting in an approximately 1% overall increase in Latino representation for both Fortune 500 and Fortune 1000 boards.

Key findings from the 2023 Latino Board Monitor include:

Fortune 500 Representation : Latinos now hold 5.4% of board seats among Fortune 500 companies, a 1% increase from the previous year.
Fortune 1000 Representation : In Fortune 1000 companies, Latino representation of board seats has risen to 4.9%, marking an impressive 0.8% increase.
Company Inclusion : 40% of Fortune 1000 companies are inclusive of Latinos on their corporate boards, reflecting a 5 percentage point increase from 2022 – the second most notable increase since 2019.

LCDA's Acting President and CEO, Ozzie Gromada Meza, remarked, "The 2023 Latino Board Monitor reflects the progress we've made as an organization and as a community. Our commitment to serve as a strategic business partner to corporate boardrooms and to foster equity and inclusion has yielded positive outcomes. We celebrate the substantial gains made thus far and recognize that we are accountable for the work to be done."

For more information about the 2023 Latino Board Monitor and LCDA's mission and initiatives, please visit latinocorporatedirectors.org.

About the Latino Corporate Directors Association (LCDA): The Latino Corporate Directors Association (LCDA) brings together accomplished and respected Hispanics/Latinos in corporate leadership and corporate governance committed to paying it forward. Our mission is to develop, support, and increase the number of Hispanics/Latinos on corporate boards. LCDA's strategy to accelerate Hispanic/Latino placements on corporate boards is focused on three areas: grow demand, grow supply, and raise awareness. LCDA serves as an advocate and resource to corporate boards, search firms, private equity, and institutional investors interested in gaining access to exceptional Hispanic/Latino board talent. Together with our foundation (LCDEF), our program areas also focus on growing the supply of high-caliber boardroom candidates and providing quality corporate governance programming for experienced and aspiring directors.

Contact: Monique Navarro, LCDA AVP, Marketing and Communications, (915) 790-7788

SOURCE LATINO CORPORATE DIRECTORS ASSOCIATION