WASHINGTON, DC (May 4, 2017) — The National Association of Corporate Directors (NACD), the advocate for the profession of directorship, and the Latino Corporate Directors Association (LCDA), the first national membership association of Latinos serving on public or private company boards, today announced a partnership that will serve as a catalyst to increase the number of diverse directors in today’s boardrooms.
In response to NACD clients’ increasing demand for diverse director candidates, NACD Board Recruitment Services will work with LCDA to identify highly qualified board candidates for companies that have engaged NACD’s search practice.
"In light of heightened global trends and business imperatives, the need for diversity of experience and perspectives in the boardroom has become an unmistakable mandate," said NACD president and CEO Peter Gleason. “Our partnership with LCDA will allow us to expand our board search team’s reach and offer more directorship opportunities to Latino corporate leaders.”
LCDA was established to promote a culture of inclusion for Latinos in America’s corporate boardrooms. By collaborating with U.S. companies, LCDA’s mission is to increase Hispanic participation in boardrooms across the United States. Despite a robust talent pool and representing nearly 18 percent of the U.S. population, Latinos hold only about two percent of F1000 board seats.
“Studies demonstrate that companies gain a competitive advantage when decision making comes from diverse perspectives that align the companies’ strategy with their changing consumer bases. With Latino purchasing power at $1.7 trillion and on pace to continue to grow $80 to $90 billion a year, Latino consumers are driving consumption growth in America.” said Esther Aguilera, LCDA president and CEO, “We applaud the efforts of NACD’s Board Recruitment Services to advance the contributions that Latino leaders can make at the highest levels of corporate leadership.”
Sixty-seven percent of respondents to NACD’s most recent public company governance survey indicated their boards added at least one director in the past year. NACD and LCDA will work together to ensure that LCDA’s members are well positioned to be considered for future board openings.
NACD has been championing boardroom diversity for four decades. For more on NACD’s guidance on building diverse boards, including the NACD Diversity Discussion Guide for Directors, please visit the NACD Board Diversity Resource Center.
The National Association of Corporate Directors (NACD) empowers more than 17,000 directors to lead with confidence in the boardroom. As the recognized authority on leading boardroom practices, NACD helps boards strengthen investor trust and public confidence by ensuring that today’s directors are well prepared for tomorrow’s challenges. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and corporate governance stakeholders, NACD has been setting the standard for responsible board leadership for 40 years. To learn more about NACD, visit www.NACDonline.org. To become an NACD member, please contact us at Join@NACDonline.org or 202-572-2089. If you are already a member, contact your NACD Membership Advisor at MembershipAdvisor@NACDonline.org to ensure that you are receiving the best value from your membership.
The Latino Corporate Directors Association (LCDA) is the first association of U.S. Latino corporate board members serving on public or private company boards. LCDA is focused on increasing the number and influence of U.S. Latinos on corporate boards by growing the pool of high-caliber, board-ready candidates; providing quality corporate-governance programming for experienced and aspiring directors; and serving as a trusted partner to search firms, corporations and other allies to promote board diversity. Despite a robust talent pool, U.S. Latinos are underrepresented on U.S. corporate boards. Presently, about 3% of Fortune 500 and 2% of Fortune 1000 company board seats are held by Latinos; yet this growing demographic represents 18% of the U.S. population and $1.7 trillion in purchasing power. LCDA was formed to serve as a resource and trusted partner to reverse this trend. More information is available at www.latinocorporatedirectors.org.
Director, Marketing & Development