🌍 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 🌈💼✨