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Esther Aguilera: "Latinos Are The Most Underrepresented Minorities on U.S. Corporate Boards"

Esther Aguilera: "Latinos Are The Most Underrepresented Minorities on U.S. Corporate Boards"

Episode 18 Published 5 years, 8 months ago
Description
  1. Start of interview [1:25]
  2. Esther's "origin story" [1:50]
  3. Her experience at Occidental College [3:55]
  4. Her transition from CA to Washington DC [4:36]
  5. Introduction of the Latino Corporate Director Association (LCDA), founded in 2016 [6:20]
  6. History of LCDA [7:15] Links with the Hispanic Association of Corporate Responsibility (HACR)
  7. The Mission of LCDA is to 1) develop, 2) support & 3) increase the number of Latinos on Corporate Boards [8:56]
  8. LCDA Pillars [9:06]: 1) Increase supply (Latinos hold less than 3% of Fortune 1000 company board seats) 2) Increase demand, 3) Research and Raising Awareness, 4) Engage with Companies.
  9. The LCDA Board Ready Institute for aspiring directors [12:10]
  10. LCDA Memberships (115 current members: 2/3s corporate directors, 1/3 aspiring directors):
    1. Aspiring Directors (executive membership).
    2. Corporate Directors  (as of 2019, Latino directors held 275 board seats in F1000 companies for a total of only 209 individuals)
  11. CA's Women on Boards Legislation (2018): SB-826 (Gender) [21:16]
    1. LCDA found that out of 511 seats filled by women on California public company boards since SB 826 was enacted, just 17 (3.3%) are Latina, compared to 77.9% white women.
  12. CA's Corporate Boards Diversity Legislation (2020) (pending signature): AB-979 (Minorities)
    1. LCDA found that out of 662 California companies registered on the NYSE, NASDAQ, and AMEX, 35%, or 233 companies have all white boards of directors.
    2. LCDA also found that out of these 662 CA companies, only 13% had at least one Latino on their board.
  13. "What ends up happening is that you're setting up winners and losers: if there is only a focus on gender, Latinos and African-American lose out." [24:50]
  14. LCDA's Latino Voices for Boardroom Equity Initiative in partnership with leading business and civic leaders [28:41] The Latino Voices initiative asserts that diversity without the inclusion of Latinos is not acceptable:
    1. Call to triple Latino representation on public company boards by 2023 (currently Latinos hold only 2.2% of Russell 3000 companies per ISS)
    2. Act to target corporations with no Latino representation (for example, Del Taco, Chipotle and el Pollo Loco)
    3. Track progress through publication of a quarterly scorecard.
  15. "If Latinos were a nation, they would be the 8th largest
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