Latino Board Monitor
Latino Representation on Illinois Corporate Boards
The Latino Board Monitor: Latino Representation on Illinois Corporate Boards report analyzes and raises awareness of Latino inclusion on Illinois public boards, including private Fortune 1000 companies, based on the percentage of board seats held by Latinos and companies’ inclusion of Latino directors.
Recognizing the pivotal role of Latinos, who constitute nearly 20% of the U.S. population and wield significant economic influence, Latinos in Illinois contribute approximately 10% of the Gross Domestic Income or nearly $93 billion. It is a business imperative that corporations actively incorporate the Hispanic/Latino perspective within corporate boardrooms and the C-suite.
However, recent trends in board representation have brought to light a troubling reality. Hispanic/Latino directors continue to be significantly underrepresented in Illinois corporate boardrooms. Although Latinos currently constitute 18% of the Illinois population, their representation on Illinois-based public company boards falls far short of reflecting this demographic reality holding just 45 of 1,437 available board seats.
Among the Key Findings:
- Nearly 80% of Illinois-based public companies lack Latino representation.
- Latino board seat representation on Illinois-based public company boards stands at only 3.1%.
With Latinos accounting for $660 billion dollars of unlocked and untapped spend, the Hispanic/Latino perspective is invaluable for gaining insights into the evolving mainstream economy and ensuring that businesses remain competitive and relevant. Yet, despite some progress, Latino representation on Illinois boards still lags behind that of other racial and ethnic groups. Furthermore, Latinos and Latinas face the greatest underrepresentation when it comes to access and visibility to the tremendous amount of Latino board talent, further exacerbating the existing disparity.
