New Survey Shows Progress Of Diversity And Inclusion Over Last 10 Years Still
Slow In Chicago's Corporate Board Rooms And C-Suites
2012 Corporate Diversity Profile responds with tool kit that can help advance
Top CEOs give insights on building an inclusive culture
CHICAGO, Nov. 15, 2012
CHICAGO, Nov. 15, 2012 /PRNewswire/ -- An analysis of proxy statements of
Chicago's top 50 companies by revenue reveals that the representation of
minorities in corporate board rooms and top executive positions has not
significantly improved within the last decade despite changing population
demographics, decades of affirmative action and numerous corporate diversity
The findings of Chicago United's 2012 Corporate Diversity Profile—a biennial
survey that measures racial diversity specifically in the leadership ranks of
Chicago-area corporations, on corporate boards and in executive level
management-- will be presented today at Chicago United's Changing Color of
Leadership Conference at the Hilton Chicago.
Analysis was done at the board of directors, c-suite, and executive levels for
the top 50 Chicago-headquartered companies by revenue. Of these three levels,
ethnic minorities had a greater presence on boards of directors, holding 12%
of the seats. When looking exclusively at C-suite positions, minority
representation was 7%, and in executive positions, it was 10%.
Because the pace of diversity and inclusion (D&I) remains disappointingly
slow, Chicago United has included within the newest Profile a toolkit of
questions and scorecards that chief executives can use to determine what their
organizations can do to improve in areas critical to D&I advancement, such as
recruitment, succession planning, performance management and more. The intent,
according to Chicago United President and CEO Gloria Castillo, is to enable
CEOs and diversity leaders to give clear and measurable direction to their
organizations for how D&I should be driven as a business imperative.
"The 2012 Corporate Diversity Profile marks a turning point in the way Chicago
United advocates for more multiracial leadership in business," said Gloria
Castillo, president and CEO of Chicago United. "We've analyzed more robust
information than we have in prior Profiles, and the tool kit points the way
forward as we call for more progress in developing and placing senior
executives of color. Additionally, I know CEOs will find insights from their
peers about building an inclusive culture to be instructive."
Leaders who shared insights include 2012 Chicago United Bridge Awardees
William C. Weldon, Chairman, Johnson and Johnson, and Gregory Wasson,
President and CEO, Walgreen Co. Other contributors are Patricia Hemingway
Hall, President and CEO, Health Care Service Corp. and chairwoman, Chicago
United; Anne R. Pramaggiore, President and CEO, ComEd; Frederick H. Waddell,
Chairman and CEO, Northern Trust Corporation and; Jan Fields, President,
McDonald's USA, LLC.
Other key findings of the Profile include:
oWith the exception of the representation of Asian Americans, Chicago
slightly trails national statistics when looking at board diversity based
on a comparison of local data to the statistics reported by Spencer Stuart
in their Board Index for 2011.
oIn looking at the pipeline for executives of color, the presence of
specific minority groups is minimal in MBA programs at top tier schools;
however, these students are highly represented across a vast array of
other universities. Companies, therefore, should consider widening their
oAn analysis of longitudinal data from the U.S. Department of Education
revealed differences in managerial career trajectory by race, indicating
that opportunities remain for companies to minimize barriers that limit
mobility for managers of color.
For more information on the Changing Color of Leadership Conference and Bridge
Awards Dinner, please visit Chicago-united.org.
About Chicago United
Chicago United is an advocacy organization made up of racially diverse CEOs
and executive level management who increase economic opportunity for all races
by promoting multiracial leadership development in corporate governance, the
leadership pipeline and business partnerships. Through a fierce brand of
constructive conversation, Chicago United fosters inclusion and provides an
opportunity for senior executives from all racial and ethnic groups to learn
from one another, confront and break down racial barriers and achieve shared
objectives. For more information please visit www.chicago-united.org.
SOURCE Chicago United
Contact: David Rudd, +1-312-988-2032, email@example.com
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