Greetings LCDA Familia,
The LCDA Board recently came together for a strategy session to chart our next growth phase for greater impact. LCDA’s pioneering work is about changing perceptions and capitalizing on our role as directors to change the game. We remain steadfast in our focus to accelerate the number of Hispanics/Latinos in America’s corporate boardrooms.
In 21st Century America, it is unacceptable that Hispanics/Latinos remain the least tapped and most underrepresented group in America’s corporate boardrooms. We comprise two-in-10 Americans and only 2-in-50 Fortune 1000 company boards.
As corporate leaders plan for long-term growth and sustainability, they must take into consideration the role that Latinos play as their companies’ employees, consumers, and business partners. In the last decade, Hispanic/Latino real GDP grew 57% faster than the broader US economy and Latinos comprised 82% of net new entrants to the US labor force.
LCDA members are committed to paying it forward and doing their part to advance the mission. Our members seek to build community to support one another as a fundamental pathway to collectively advance the mission. Plus, LCDA members are promoting Latino candidates and referring board searches to LCDA.
Here is a calendar of events and immediate actions committed toward that end:
- In-person networking. We are launching LCDA Member-Led State/Regional Networks for in-person networking. Plus, LCDA regional members can leverage connections with company boards in their regions that lack Hispanic/Latino directors.
- Virtual networking. We are launching the LCDA Mighty Network, a virtual platform that allows members to connect by industry and affinity groups more organically. Plus, the platform allows members to initiate private peer-exchanges and conversations on trending boardroom topics.
- Leveraging their Influence. Latino corporate directors are amplifying three messages with colleagues in the boardroom: a) there is ample Latino board talent, b) as a best practice, calling for inclusion of Latino candidates for every board search; and c) connecting peers and companies to LCDA as the ultimate source for Latino board talent.
The LCDA board is resolute to move forward powerfully. Changing corporate power dynamics is a monumental task that will take the collective influence of each and every one of us. Let’s reimagine the future together.
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Elizabeth Oliver-Farrow
LCDA Board Chair
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Join us in congratulating the newly certified LCDA members who participated in the 2022 Spring BoardReady Institute (BRI) and completed the coursework! LCDEF is pleased to award our largest cohort to date with the BRI Certificate of Completion for Excellence in Board Governance.
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The core BRI program is designed to prepare highly credentialed executives and national leaders to begin their journey to the boardroom and be best positioned to serve as a vetted talent pool for corporate board service. The program is targeted at new LCDA Executive Members who have not completed board-ready programming or directors who are serving on their first private board (less than 2 years). The programming is supported by BRI’s stellar faculty, including LCDA’s seasoned directors, KPMG’s Board Leadership Center, UC Hastings' Center for Business Law, the top search firms, and many more, all committed to our members’ success and leveraging the knowledge and resources of their institutions to enhance participants’ learning and journey to and in the boardroom. Learn More about BRI here
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Secure Your Spot!
Registration Now Open for the 7th Annual LCDA Board Leaders Convening and Fall BoardReady Institute (BRI), October 25-28, hosted by Morgan Stanley in New York City.
Members can register by following the registration link recently emailed or by logging into their member portal and following the provided link there. Partner registration is also open.
Hotel reservations for the Marriott Marquis Times Square are also now available. See you in New York!
For questions, contact Wendy Sturley, Director of Content and Events, at wsturley@latinocorporatedirectors.org.
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Congratulations to LCDA Members for their board appointments! LCDA members continue to be at the forefront of Latino board seat holders in Fortune 1000 companies.
To view recent board appointments and connect with LCDA Members >CLICK HERE
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CNBC: LCDA CEO Esther Aguilera and LCDA Member Luis G. Marconi spoke on the importance of all diversity representation increases, but that there is still a long way to go to build the Hispanic/Latino board representation.
Did you know despite the increasing rapid population growth of Hispanic/Latinos in the U.S. (19%), only 5% of Board Directors on the S&P 500 are Hispanic/Latino? >WATCH HERE
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Businesswire: LCDA is proud to partner with Diligent on their inaugural Board Diversity Gaps: The Modern Leadership Report revealing massive gaps in how diversity is defined and represented on corporate boards globally.
"Diversity has risen up the boardroom agenda as organizations face increasing pressure to better reflect the diversity of their customer bases and communities, but progress has been slow and there are still many gaps when it comes to reporting on race, ethnicity and LGBTQ+ representation on boards," said Lisa Edwards, President and COO of Diligent and board director at Colgate-Palmolive. "This report provides new, critical insights into how boardrooms worldwide are progressing against diversity goals and where there is still much work to be done."
>READ MORE
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USA TODAY: LCDA Members Geisha Williams, Marta Ronquillo Newhart, and Daisy Auger-Dominguez, recently spoke with USA TODAY on the lack of Hispanic female presence on corporate boards and executive positions.
When LCDA Member, Geisha Williams, took over PG&E in 2017, she was stunned to learn she was the first Latina CEO of a Fortune 500 company. Later, Cheryl Miller, the first female CEO of a publicly traded auto-dealership chain who was born in Puerto Rico, served as CEO of AutoNation from 2019 to 2020. “There are an incredible number of supremely qualified and capable women. It’s not a question of there aren’t people available to serve in these positions,” Williams said.
LCDA Member, Marta Ronquillo Newhart, noted, "Corporations without Latinas at the table are missing a valuable perspective," she said. And that perspective is increasingly important." By 2029, Latinas are projected to be 9.3% of the US labor force. As corporations cater to an increasingly diverse nation and Hispanic buying power soars, Latinas and Hispanic women are sought after as household decision-makers.
“It’s not just about the right thing to do," said Esther Aguilera, CEO of the Latino Corporate Directors Association (LCDA). "This is about making sure you are on top of the fastest-growing demographic."
Little changes as Latinas move up the ladder, says, LCDA Member, Daisy Auger-Dominguez. She added, “Even when we are in the C-suite, even when we are in these positions of power, we are still these outsiders looking in.” >READ MORE
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AL DIA News: Congratulations to LCDA Member, Hilda Galvan, Partner-in-Charge of the legal firm Jones Day’s Dallas office, who will be inducted into the 2023 Dallas Business Hall of Fame by Junior Achievement of Dallas. “It is an honor to be selected for this recognition at a time when preparing the next generation of business leaders is most critical,” Galvan said. “It also reflects our firm’s unwavering support and hard work to ensure that the regional economy thrives and grows at all levels.” >READ MORE
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Congratulations to LCDA CEO Esther Aguilera and LCDA Members Claudia Romo Edelman, Miguel Fernandez, Carolina Jannicelli, Enrique Lores, and Ileana Musa who were named top influencers in Bloomberg Linea's 2022 edition of The 500 Most Influential People in Latin America.
>READ MORE
>VIEW THE REPORT
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Congratulations to LCDA CEO Esther Aguilera on being named an AL DÍA News Media Archetype of Non Profit Honoree and LCDA Member Jacqueline Hernández for being named Media Honoree. >READ MORE
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Congratulations to LCDA's CEO Esther Aguilera and VP of Member and Talent Services Ozzie Gromada Meza on being named a Diligent Modern Governance 100 Honoree in the ESG, Diversity, and Climate Trailblazer category which recognizes outstanding work to put initiatives in place to measure and report on ESG in a meaningful way, helping organizations to do better and to hold them to account to stakeholders, communities and the planet.
Congratulations to all the Honorees this year, including LCDA Members Nichol Garzon-Mitchell and Marcela Kirberger, a remarkable and inspirational group of global professionals. >View the full list of Honorees
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Congratulations to LCDA Member Ricardo Mora who has been appointed as a new LCDEF Board Member.
Ricardo, Co-Head of Latin America, Partner Goldman Sachs, joined Goldman Sachs as a managing director in 2008 and was named partner in 2010. He is a member of the Global Markets Division Operating Committee, and the Client Business Standards Committee and serves on the Americas Inclusion and Diversity Committee.
Originally from California and born to Mexican immigrant parents—it is evident his strong Latino roots drives his commitment as a regional sponsor of the Goldman Sachs Hispanic/Latinx Network in the Americas, an ERG group, and his commitment to pay it forward to the Hispanic/Latino community. We look forward to the great things he'll do to help LCDEF's vision move forward! >LEARN MORE
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LCDA Member Michael Garcia, Algoma's new CEO, came to the Sault three months ago with a reputation for promoting gender and racial diversity in leadership.
Garcia uses social media to congratulate women and racialized persons appointed to corporate boards and management. He's a member of the Latino Corporate Directors Association who was welcomed to the Sault last month by members of the Northern Ontario Latin-Hispanic Association.
"Gender is of particular importance to us in ensuring diversity within the board and management," the company recently advised the U.S. Securities Exchange Commission.
"Recommendations concerning board nominees are, foremost, based on merit and performance, but diversity is taken into consideration, as it is beneficial that a diversity of backgrounds, views and experiences be present at the board and management levels."
"The level of representation of women has been, and will continue to be, considered by the company, the board and the nominating and governance committee in the making of executive officer appointments." >LEARN MORE
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Congratulations to LCDA Member Mike Rogerro on his board appointment to Pew Research Center.
LCDA is proud to have partnered with Pew Research Center CEO Michael Dimock in sourcing talent for this opportunity. >LEARN MORE
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Check out LCDA Member Louis Caldera's feature in Latino Leaders Magazine. >LEARN MORE
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Check out LCDA Member Amb. Antonio Garza's feature in Latino Leaders Magazine. >LEARN MORE
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Check out LCDA Member Luis Ubinas feature in Latino Leaders Magazine. >LEARN MORE
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Check out LCDA Member Gilbert Davila's feature in Latino Leaders Magazine. >LEARN MORE
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Congratulations to LCDA Member Julieta LaMalfa and Rodrigo Garcia for being named Negocios Now Who's Who in Hispanic Business. >LEARN MORE
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Congratulations to LCDA Member Melissa Ribeiro on being named Chief People Officer at Encora Inc. >LEARN MORE
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Congratulations to LCDA Member Rick Gomez and fellow Latino Leaders who were named in Forbes’ 2022 CEO Next List. >LEARN MORE
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Congratulations to LCDA Member Rafael A. Sanchez who was named Executive Vice President, Chief Impact Officer at Old National Bank. >LEARN MORE
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LCDA membership continues to grow as we welcome our newest experienced corporate directors. Connect via our Member Directory.
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Manny Alvarez
East West Bancorp Inc. (NASDAQ:EWBC)
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Dennis Arriola
ConocoPhillips (NYSE:COP)
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Eduardo "Eddy" Arriola
Federal Home Loan Bank of Atlanta
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Ricardo Estrada
Commonwealth Edison Co (ComEd)
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Janie Martinez Gonzalez
CPS Energy
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Michael Huerta
Delta Air Lines, Inc. (NYSE:DAL); Verra Mobility Corp. (NASDAQ:VRRM)
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Dave Lemus
Sorrento Therapeutics (NASDAQ:SRNE); Silence Therapeutics (NASDAQ:SLN)
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Joseph "Mario" Molina
Apollo Medical Holdings Inc. (NASDAQ: AMEH) (Former); Molina Healthcare, Inc. (NYSE: MOH) (Former)
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Regina Montoya
Dallas Fort Worth International Airport (Former)
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Alberto Musalem
Freddie Mac
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Liliana Valletta
Zumiez, Inc. (NASDAQ:ZUMZ); Canal RCN (BVC:RCNTELEVI)
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Alejandra Veltmann
California Resources Corp. (NYSE:CRC)
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LCDA is proud to partner with Diligent on their inaugural Board Diversity Gaps: The Modern Leadership Report revealing massive gaps in how diversity is defined and represented on corporate boards globally.
Despite the relatively low proportion of Latino(a) directors on boards in the U.S., levels of representation have been on the rise. However, the level of Latino(a) representation in the boardroom is still far below the proportion of Latinos in the U.S. population. Even more concerning, Latinas continued to be the least represented across all gender and race/ethnicities. >ACCESS THE FULL REPORT
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Fortune: “Nasdaq’s Board Diversity Rule goes into effect this month. Corporations listed on the U.S. exchange will be required to disclose the ethnic and gender makeup of their boards … Corporate leaders, shareholders, and current board members at these companies need to ask themselves what diversity means for their organizations. If this is new territory for the company, they must consider surveying their employees about the topic. Diversifying a board is a journey–and you can’t undertake it just to meet quotas.”
As a Nasdaq Diversity Partner, LCDA applauds the advances being taken to increase board diversity! Through our strong network of highly qualified executives and our commitment to grow, train, and develop the pipeline of accomplished Latinos who are prepared for board governance — we demonstrate to public and private companies that partnering with LCDA is good business and good for business. >READ MORE
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Another wildly successful event!
Thanks to all who attended our LCDA Regional Reception in Chicago, hosted by Baker McKenzie, and in partnership with Angeles Investors.
Special thanks to our event Sponsors: Wind Point Partners, Northern Trust Corporation, Exelon, Egon Zehnder, and BMO Harris Bank.
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About LCDA
The Latino Corporate Directors Association (LCDA) is the only association made up of US Latinos that serve on publicly-traded and large private company boards, as well as C-level and board-qualified executives. LCDA’s membership includes accomplished Latinos at the highest levels of corporate leadership who share our mission to increase the number and influence of Latinos on corporate boards.
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.
LCDA, 1032 15th St NW #1377, Washington, DC 20005
202-430-6954 | www.latinocorporatedirectors.org
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