🌍 Breaking Barriers in the Boardroom #Pride2024🌍
I am proud to share an insightful article from Agenda, a news service from the Financial Times for the U.S. corporate boardroom space, on the increasing but still challenging journey of LGBTQ representation in corporate boardrooms. This piece, penned by Lindsay Frost and quoting Megan Kashner and Jack (Rusty) O'Kelley, delves into the progress and persistent obstacles faced by LGBTQ individuals striving for board positions.
Read the full article here: https://lnkd.in/e4B72gNN
🔑 Key Takeaways:
- LGBTQ representation on S&P 500 boards has grown significantly, from just four directors in 2018 to 43 today. 📊
- Despite this progress, LGBTQ individuals still represent about 0.8% of Fortune 500 board members, a stark contrast to the 7.6% of the U.S. population. 📉
- Barriers include the backlash against DEI programs, networking gaps, fears of being openly out to impede further progress, and some level of unexpressed prejudice (e.g., "LGBTQ people broke societal norms, can they be trusted?"). 🚫
Fabrice C Houdart, the founder and executive director of the Association of LGBTQ Corporate Directors emphasized the unique perspectives LGBTQ directors bring—perspectives shaped by resilience and a deep understanding of complex social dynamics. These qualities are invaluable for navigating today’s business landscape:
"They experience being ostracized from their own family, strained relationships and discrimination in education and employment. All of those come together to give them a different outlook on life."
The benefits of having a variety of voices and experiences in the boardroom cannot be overstated.
Thank you, #AgendaWeek, for highlighting this critical issue. Let’s continue to drive forward and ensure that LGBTQ voices are heard and integral to decision-making at the highest levels.
#LGBTQ #Diversity #Inclusion #CorporateGovernance #Leadership #LGBTQDirectors #BoardDiversity 🌈💼✨