CHICAGO, March 9, 2021 /PRNewswire/ -- Global executive search firm DHR International (DHR) is pleased to announce it has partnered with Harvard Business School Latino Alumni Association (HBSLAA) to create "21 in '21" – a program aimed at placing 21 Latinx executives in board roles in 2021.
Today, Hispanics represent 18% of the U.S. population, yet only 2.7% of board members at Fortune 1000 companies are Latino, according to a report by KPMG and Latino Corporate Directors Association. At the same time, research from McKinsey & Company shows that diverse firms outperform their less-diverse competitors by up to 36% in profitability.
A diversity proponent and proven resource to board decision-makers, DHR is well-positioned to support the 21 in '21 initiative and influence a positive shift toward increased board diversity throughout the U.S. The company will engage its Latino Diversity Network of board-ready executives and its clients to bring more Latinx executives to public and private company boards across sectors.
While all industries have a need for greater diversity, the 21 in '21 program will place a focus on the private equity sector, where Latinx representation is especially low and there is a great opportunity to effect change. Thirty Percent Coalition states on its website "sound corporate governance practices that include diversity as a priority is also rapidly becoming a prerequisite for institutional investors who represent today 80% of the equity market cap."
"It's an honor to partner with HBSLAA on our 21 in '21 program, demonstrating our commitment to increasing Latinx diversity in the boardroom," said Keith Giarman, Managing Partner, Global Private Equity Practice at DHR and an HBS alumnus. "The economic value of the U.S. Latino community in 2017 was $2.3 trillion, comparable to the world's eighth-largest GDP in the world according to LDC Latino Donor Collaborative. This group will continue to drive the economy, and companies that understand the Latinx perspective will be poised to succeed."
"With an increased national conversation on diversity, equity, and inclusion, we are pleased to launch 21 in '21 in partnership with DHR," said Lulu Curiel, President Emeritus of HBSLAA.
"By engaging HBS board-ready alumni and board decision-makers, we will move the needle on driving diversity into the boardroom," said Melissa Hart, HBSLAA Board Member.
Leading this effort for DHR is Giarman; Christine DeYoung, Managing Partner, Commercial Growth Practice, Private Equity Practice Leader, and an HBS alumna; and Heather Smith, Partner, Global Board & CEO Practice. Working with them is Lizette Ibarra, Managing Partner of DHR's Miami office and leader within the firm's Diversity Practice with deep connections to the Latinx community. This team brings demonstrated success placing board directors for public and private companies across industry sectors and market capital size to drive shareholder value. They are also prominent advocates for diverse candidates, sharing their expertise to ensure more executives are board-ready.
About DHR International
For 30 years DHR International has been a leading, privately held provider of executive search solutions with more than 50 offices spanning the globe. DHR's renowned consultants specialize in all industries and functions in order to provide unparalleled senior-level executive search, management assessment, and succession planning services tailored to the unique qualities and specifications of our select client base. For more information on DHR International, visit http://www.dhrinternational.com.
About Harvard Business School Latino Alumni Association
The Harvard Business School Latino Alumni Association (HBSLAA) is a non-profit organization with the aim to connect, empower and advocate for Latinx business communities. The organization is dedicated to creating a community that brings together alumni, current students, prospectives, and faculty to increase its influence at HBS and in the national Latinx business community.
The HBSLAA works to achieve its mission by connecting the collective HBS Latinx community (prospectives, students, alumni, and faculty), empowering its alumni by creating learning and development opportunities and a platform for them to grow from graduation-to-retirement, and advocating for communities of color across Harvard University and globally. To learn more about HBSLAA, visit http://www.hbslaa.org.
SOURCE DHR International