Details on F1000 companies, their board size, and the number of Latino/as on each board are all readily available on the new Latino Board Tracker. Users can search by F1000 rank, company name, company headquarter location, and the number of Latino/as on each board. Presently, the tracker shows that only 25% of F1000 companies have Latinos on their boards and just 32 of those receive a gold star designation for having two or more Latinos. LCDA's methodology to report on this data included a thorough review of publicly available information that identified individuals as Latino.
"The Latino Board Tracker is an important tool that will give companies and boards a way to measure their success in diversifying their boards with Latino talent," noted Roel Campos, LCDA Board Chair and former SEC Commissioner. "The launch of this board tracker is one of several unique tools and resources LCDA has developed to help companies and search firms identify quality board talent."
"LCDA is filing a gap with the Latino Board Tracker because reporting by race and ethnicity is currently not required of corporate boards," said Esther Aguilera, CEO of LCDA. "This tool is a baseline; it is our hope that boards and directors will surface with additional information about current board composition that will enable the most accurate data available."
The need to disclose board composition based on race and ethnicity is an effort LCDA has long supported. The recent passage of the "Improving Corporate Governance Through Diversity Act of 2019," by the U.S. House of Representatives is an important step towards this disclosure. The bill requires public companies to annually disclose the voluntarily self-identified gender, race, ethnicity, and veteran status of their board of directors, nominees, and senior executive officers.
LCDA works closely with its partner, Diversified Search, to annually report on the number of Latino/as on corporate boards. The new Latino Board Tracker provides the most recent listings for 2019 F1000 companies and is current as of December 31, 2019. LCDA plans to launch an S&P 500 and Russell 3000 tracker in the future.
ABOUT THE LATINO CORPORATE DIRECTOR'S ASSOCIATION The Latino Corporate Directors Association (LCDA) is a national organization promoting C-level and board diversity to maximize business success. LCDA serves as an advocate and resource to corporate boards, search firms, private equity, and institutional investors interested in gaining access to exceptional Latino board talent. Our program areas focus on growing the supply of high-caliber boardroom candidates and providing quality corporate governance programming for experienced and aspiring directors.