With U.S. companies facing increasing pressure to diversify their boards of directors, an upcoming webinar offers insights into how Black Americans can become and earn money on board members.
The virtual event How to Become Corporate Board Ready will take place at 8 p.m. EST on Tuesday October 27th. Organizers say the discussions will be led by DeForest B. Soaries Jr., a Baptist minister, writer, and public advocate. He will talk about how to bring diversity to the boardroom, how he joined seven boards, and what it takes to be a company Director.
The session is a preview of the How to Become a Paid Company course director. Black executives are learning how to become paid business leaders. The program contains step-by-step instructions for implementation. As the director's training continues, former Soaries students will discuss their experiences of attending the course and the benefits of joining company boards. Over 600 people have registered for the free Zoom meeting.
The webinar aims to raise awareness of the plethora of boardroom diversity and to help Americans navigate the process of getting seats on corporate boards. It will help participants understand:
- Because of the new regulations, many organizations are trying to diversify their corporate boards. For example, California just passed law requiring publicly traded companies based in the state to have board members from underrepresented communities. The session will include an open discussion on how to bring diversity to the boardroom and share steps on how attendees can begin their journey to start a paid business executive.
- How many people believe that they cannot become directors or that there is no company board for them? Soaries will discuss the mindset for entry as a board member in an open discussion about what it means to be a business leader.
- People will know what it takes to be a better leader.
The timing of the event is apt as the racial mix of corporate boards is now getting more attention with the assassination of George Floyd and the ensuing national protests against Black Lives Matter.
A new poll shows that little has been done to increase the number of Black, Hispanic, Asian-American and other underrepresented board members, despite the American company promising to change those numbers. The boards of the 3,000 largest publicly traded companies are still overwhelmingly white, according to a report in the New York Times. Take the black directors, for example. They make up only 4% of the total, up from 3% in 2015. Black women make up just 1.5% of the 20,000+ directors included in the analysis, beyond other surveys that only included the 500 largest public companies. The results were published in mid-September by the ESG department of Institutional Shareholder Services.
BLACK ENTERPRISE has extensively examined and reported on corporate governance in the boardroom.
Register at dbsoaries.com/masterclass for a link to the session.