Latino representation on Fortune 1000 boards
Tracking Fortune 1000 Board Representation
LCDA and KPMG's Board Leadership Center collaborated on the study, which aims to pinpoint trends in Latino directors' gender, age, board and committee service, tenure, and tenure by industry and state of corporate headquarters.
Diversity on corporate boards has been proven to be good for business, and yet by 2022, U.S. Latinos only hold 3.7 percent of Fortune 1000 board seats. It makes sense for boardrooms to include Latinos to offer insight into the New Mainstream Economy.
Unfortunately, the annual report "Latino Representation on Fortune 1000 Boards - 2022 Edition" shows that despite a slight increase in representation since 2019, Latino directors still face substantial underrepresentation on Fortune 1000 boards. Over two-thirds of Fortune 1000 boards have no Latino directors at all.
Additionally, it is uncommon to find more than one Latino director serving on a Fortune 1000 board, highlighting a serious underrepresentation issue. The food, beverage, and tobacco sectors emerge as the industries with the highest representation of Latino directors. A majority of Fortune 1000 boards in this sector include at least one Latino director. However, the overall Latino representation in this industry still stands at only 7 percent of all board seats.
Latino directors demonstrate higher levels of diversity in age and gender compared to the entire population of Fortune 1000 directors. Forty-five percent of Latino directors are under the age of 60, in contrast to 36 percent of all Fortune 1000 directors. Furthermore, 33 percent of Latino directors are female, while only 28 percent of all Fortune 1000 directors are women.
This report is a collaborative effort between KPMG's Board Leadership Center (BLC) and the Latino Corporate Directors Association (LCDA). The primary objective of this study is to identify and analyze key trends in gender, age, board service, committee service, and tenure among U.S. Latino directors, as well as to ascertain the prevalence of Latino directors by industry and state of corporate headquarters.