Corporate America has a Latino problem.
By now, it almost a cliché – but the numbers continue to back it up. Across the nation’s Fortune 500 companies, there are just 10 Hispanic CEOs and only 3 percent of Latinos serve on corporate boards. That is about 137 out of 5,500 available board seats – the suits at the top of the proverbial ladder. The numbers are abysmal, especially when you consider Latinos constitute 17 percent of the nation’s population and have a purchasing power upwards of $1.3 trillion, and growing.
Companies say they value Latino money, but haven’t yet figured out how to include Latinos in the decision making.
Enter the Hispanic Association on Corporate Responsibility, a national organization looking to advance the inclusion of Hispanics in Corporate America.
“There’s still this so called ‘good old boys’ club of board members who really keep to their vest …