New report on Latino representation on Fortune 1000 boards
This year's edition examines the state of diversity, inclusion and equity in the largest corporations in the U.S.
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KPMG BLC, in association with the Latino Corporate Directors Association (LCDA), presented the 2022 edition of this report that seeks to identify and analyze trends in gender, age, board service, committee service, and tenure among U.S. Latino directors, as well as the prevalence of Latino directors by industry and company state.
It is important to note that for this study, Latino directors were identified by LCDA, while the firm Equilar provided data on boards and directors of Fortune 1000 public companies.
US Latinos hold less than 4% of Fortune 1000 board seats despite comprising nearly 20% of the US population.
Among the findings found in the new edition of this annual report, the following stand out:
- U.S. Latinos hold 3.7% of Fortune 1000 board seats, compared to 2.7% in 2019. This percentage remains staggeringly low, as Latinos comprise 18.9% of the U.S. population.
- Over two-thirds of Fortune 1000 boards have no Latino directors. It is also uncommon to find more than one Latino director on a Fortune 1000 board.
- Latino directors are most highly represented in the food, beverages, and tobacco sector: A majority of Fortune 1000 boards in this industry have at least one Latino director. However, Latinos still only hold 7% of all board seats in this industry.
- Latino directors are more likely to be younger and female compared to the entire population of Fortune 1000 directors. 45% of Latino directors are under age 60, compared to 36% of Fortune 1000 directors.
- 33% of Latino directors are female, compared 28% of all Fortune 1000 directors.
#JustReleased: US Latinos hold less than 4% of #Fortune1000 board seats despite comprising nearly 20% of the US population. @KPMG_US— Latino Directors (@LatinoDirectors) November 17, 2022
>DOWNLOAD: https://t.co/JVdGSXarh9#Fortune1000 #CorpGov #BoardGov #BoardDiversity #diversityincludeslatinos pic.twitter.com/ykMnxm92PE
To view the full report, click here.