Menendez Issues 2nd Annual Survey Of Female And Minority Fortune 500 Leadership

Press Release

Survey continues effort to collect data of women and minorities on corporate boards, executive management teams and in procurement practices

U.S. Senator Robert Menendez (D-NJ), Chairman of the Senate Democratic Hispanic Task Force and only one of two Hispanic Senators in the United States Senate, today announced the commencement of a second annual corporate diversity survey to continue to measure progress of our nation's leading companies, specifically of corporate boards, executive management leadership, diverse suppliers and of consulting services. He has sent a letter to Fortune 500 company CEOs, inviting them once again to provide information on female and minority representation, and to complete the online survey by August 26th. Aggregate data compiled from companies through this survey will be publicly presented later this year, although as was the case last year, details of individual company responses will not be made public.

"For the second year in a row, I invite our nation's major corporations and firms to join me in this important venture to assess the level of minority and women representation at the top. I believe that inclusion of females and minorities in the C-suite should not be done just because it is the right thing to do, but because it is good for profits," said Senator Menendez. "Women, for example, represent more than 50 percent of our population and control trillions in U.S. consumer spending. And Hispanics represent more than 16 percent of our population and control more than $1 trillion in purchasing power. Simply put, as the United States grows more and more diverse, those companies that have boards and senior management that are reflective of those demographics will be increasingly better positioned to compete in the market place."

Last year's survey had a response rate of 41 percent among Fortune 500 companies and 71 percent among Fortune 100 companies -- one of the highest response rates of any voluntary corporate diversity survey. This year, Menendez is continuing the effort to track the progress leading companies have made on this issue, as well as to draw attention to areas where they can do better.

"There is no downside to participating," said Menendez. "By participating, companies are showing that they take diversity seriously and it is a priority for them. I thank those corporations that participated last year, and encourage even more to do so this year."

Source