A few weeks ago i read this article in business week, http://www.businessweek.com/managing/content/jan2009/ca20090120_589700.htm
Its an interview with Carl Brooks who is the president and CEO of the Executive Leadership Council (ELC). The ELC is an organization comprised of over 400 African American senior executives at Fortune 500 companies.
He gave some statistics which I found to be very interesting. In 2004 72% of Fortune 100 companies board seats were held by white males, the other 28% was left to women and minorities. Also in 2004 there were 260 African Americans that were serving on the boards of Fortune 500 companies and in 2007 there were only 278.
What are the reasons for this?
There were 2 reasons that companies gave for the lack of diversity in the boardroom. There were not enough minorities serving as senior executives in Fortune 500 companies, and that the board candidates needed corporate governance training.
ELC’s solution to this is that they have offered training to their members in association with Northwestern’s Kellogg School and the National Association of Corporate Directors. Over 250 of their members have completed certifications that should make them board room eligible.
Will this bring change in the boardroom?