2023 Latino Board Monitor
Tracking Fortune 1000 Board Representation
The annual Latino Board Monitor shows the lack of Hispanic/Latino representation on US corporate boards. The data captures the representation gap and the improvements that showcase LCDA's work to influence board placements.
The indisputable benefits of diversity within corporate boardrooms are well-documented, and in a nation where Latinos constitute nearly 20% of the population, it is imperative for boardrooms to incorporate the Latino perspective. Most alarming, Latinos are currently the least represented of any racial and ethnic group in the Fortune 500, and are projected to continue to be disproportionately underrepresented in the year 2060.
In an effort to elevate the visibility of Latino influence within corporate boardrooms, the annual Latino Board Monitor report assesses Latino representation on Fortune 1000 boards. This assessment is grounded in two key metrics: the proportion of board seats held by Latinos and companies' inclusion of Latino directors.
Among the 2023 findings:
- 40% of Fortune 1000 companies are inclusive of Latinos on their corporate boards, reflecting a 5 percentage point increase from 2022 – the second most notable increase since 2019.
- With most of the progress occurring outside of the Fortune 100, minimal progress continues in the Fortune 100, shifting from 53% to 54% in Latino representation.
- While slow, Latino board representation continues to rise. The numbers have increased to 5.4% of Fortune 500 seats held by a Latino and 4.9% among Fortune 1000, a 1% and .8% respectively, one of the most notable increases for both segments since 2020.
The recent progress and momentum is supported by a comprehensive demand and talent services effort led by LCDA and the Latino Voices for Boardroom Equity (LVBE) initiative, an effort to collectively amplify the voice of Latinos and elevate Latinos into the boardroom. Thanks to these partnerships and the contributions of many partners we continue to successfully influence the inclusion of Hispanic/Latinos in board candidate pipelines.
This report draws its data from the Latino Board Tracker, a tool developed by LCDA to annually assess, identify, and measure Latino/a directorship representation within companies listed in the Fortune 1000. The report's data is current as of August 31, 2023, serving as a critical reference point for stakeholders committed to fostering diversity and inclusivity within corporate leadership.
