Latino Voices for Boardroom Equity (LVBE) was formed to raise awareness regarding a lack of Latino directors on US corporate boards and take action to improve representation of Latinos and Latinas in the boardroom.
Latino Voices for Boardroom Equity (LVBE) was formed to raise public awareness regarding a lack of Latino directors on US corporate boards and take action to improve representation of Latinos and Latinas in the boardroom.
Representing the civic and business interests of the Latino community, we have come together to speak to US corporations with one voice. Latinos are the largest minority in the nation, but the most underrepresented on public company boards of directors. We are united in a mission to open boardroom doors to our community, a critical step in achieving equity for Latinos in corporate America.
The Latino Voices initiative is contacting corporations with the following goals:
1. Engage corporations with no Latino/a representation.
2. Call to triple Latino representation on public company boards.
3. Promote and connect Latino/a experienced corporate directors and board-aspiring to US companies.
4. Report progress on a quarterly and annual basis utilizing company board trackers.
Latino Voices for Boardroom Equity is tracking Latino board representation using the following tools:
- Latinos are two in ten Americans, numbering over 62 million and growing. Latino consumers contribute $2.7 trillion to the U.S. GDP or 28% of GDP volume growth. Since 2010, Latino GDP has grown 70 percent faster than Non-Latino GDP, driving consumption growth in all mass consumer categories.
- The U.S. Latino community is the nation's largest ethnic group, yet, we are vastly underrepresented in corporate boardrooms. Most troubling is the fact that Latinos lost ground over the last decade: the share of Latinos on boards went up by a mere 1% between 2010 and 2020, while their proportion of the population increased 4%.
In California, where Latinas make-up nearly 20% of the population and laws mandate the inclusion of women and underrepresented communities on state-headquartered public company boards, Latinas hold only 1.3% of board seats.
This underrepresentation extends to Fortune 500 companies. In 2021, Latinas made up only 1% of Fortune 500 board seats.
LCDA Chair's Corner: Our Time is Now