Posted on 05/12/2005 10:50:55 AM PDT by anniegetyourgun
Los Angeles, May 12 U.S. corporate boards severely lack diversity, and companies "recycle" Hispanic and African-American directors, hiring them on multiple boards, a new study showed on Wednesday.
White men hold 71 percent of seats on Fortune 100 boards, the Alliance of Board Diversity said in its report based on directors holding seats last September.
Women and minorities collectively account for 29 percent of seats, with minorities holding 15 percent, the group said.
Carolyn Chin, a director of the Chinese American group Committee of 100, which worked with the Alliance, called the record "pathetic" for corporate America but said that signs pointed to change.
"With all the scandals and Sarbanes-Oxley (corporate accountability law), the fact that board members are aging, there is going to be a big move away from what we call male, pale, stale," Chin said in an interview commenting on the report.
There is even a lack of diversity among the individual minority members of boards: many work for more than one company. African American men hold an average of 1.6 board seats per person and Hispanic men hold 1.3 seats, compared with the average for all directors of 1.2.
Asian-Americans, by contrast, have the lowest representation, at 1.1 percent of board seats, but are not "recycled".
"Evolution is a slow process." said Ilene Lang, president of advisory group Catalyst, which advocates on behalf of women in the work place. Catalyst, Executive Leadership Council, an African-American group, and the Hispanic Association for Corporate Responsibility make up the Alliance for Board Diversity.
I think it's the fluctuations market. ;)
Hey, I'm a white male and I'm not on a board. I'm outraged!
Knowing their work ethic, and the drive to learn and educate their young, Asians will not be on the bottom for long.
I don't think individual aggression is as emphasised in Oriental cultures as in European ones. That may contribute to a lower number of Asian CEOs.
Tall men hold 80+ percent of NBA player positions, as well.
I swear, every time I read a statement like this, I wonder how people think.
They seem to think that the boards exist permanently, that the Fortune 100 companies exist permanently, and that no matter what happens, they will go on existing, so we should make the places as diverse as possible.
It never occurs to them that maybe the REASON they're in the top 100 is BECAUSE of the actions of this or that executive.
A lot of board positions are filled with stock holders, because it is an elected position, and stock holdrs vote.
The token slots these whiners are carping about are usually reserved for "independent board members" (read: people who can be trusted to show-up, shut-up and stay out of the way).
Why should it be any different? The purpose of a corporation is to make money, not to support diversity.
"what we call male, pale, stale"
...and get away w/making such "insensitive, insulting comments".
White guys are 71%, minorities (are they counting women? this gets so confusing) as 15%. Isn't that about the population distribution?
Take heart; obviously it's not racial in your case, it's personal.
Don't that make you feel good?
I'm sure there are many "cutthroat" Asian CEO's in Asian countries! Maybe folks who happen to look Asian just aren't viewed that way in the U.S. (just a guess).
I'm surprised at that. Maybe it's just that Asians like to do REAL work, not flattening butts in a meeting room. ;-)
"The purpose of a corporation is to make money, not to support diversity."
Nothing useful in our society exists to support diversity. "Diversity" is not useful or beneficial in any way when mandated. Nothing has EVER been made better by being forced to be more racially diverse.
"what we call male, pale, stale"
...and get away w/making such "insensitive, insulting comments".
Yeah, I agree. What was that all about. Can you imagine if a white male made a comment like that?
I'm just curious, what is the % of white males in the professional work place? Is 71% that far off?
God must think differently. I mean, we're all here, aren't we? :-)
A valid analysis would be to compare what percentage of white males hold director positions in Asian, African or Native Nations corporations.
They've been saying that for 80 years.
However, you do see many East Indians and, to a lesser extent other Asians, moving into finance, so we may see an Asian CEO at Morgan Stanley or Goldman Sachs in the near future.
I wouldn't be surprised if it's a little more than the (race) population at large. Altho the oriental pro % is probably much higher than their population %.
Why I haven't felt this good since the hogs got my little brother!
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