Despite their economic might, the number of U.S. Latinos on corporate boards is staggeringly low and there has been no progress in the last decade by any measure.
Latinos comprise 18.5 percent of the U.S. population and Latino consumers contribute 25 percent of the U.S. GDP.
In contrast to the size and economic strength of the U.S. Latino population, Latinos hold a mere 3 percent of the board seats among the companies listed on the 2020 Fortune 1000 list, according to the latest report by the KPMG Board Leadership Center and the Latino Corporate Directors Association.
The report measures 2020 Latino representation on Fortune 1000 boards by industry and state of company headquarters. It also examines the gender, age, and board and committee service of Latino directors.
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An analysis of Latino representation on Fortune 1000 boards by KPMG and LCDA.
Among the findings:
- Latinos are best represented on company boards in the food, beverage, and tobacco industries, yet the total number of board seats held amounts to only 5 percent.
- 85 percent of companies in the technology industry do not have a Latino on their boards.
- In both California and Texas, 39 percent of residents are Latino, yet only 3 percent of Fortune 1000 board seats of the companies based in each of those states are held by Latinos.
- The state with the highest prevalence of Latino directors is Florida, where 25 percent of residents are Latino, yet only 5 percent of Fortune 1000 board seats there are held by Latinos.
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