News Column

Top Boardrooms Fail to Reflect Hispanic Growth

January/February 2007, HISPANIC BUSINESS Magazine

Although the Hispanic population grows steadily larger, both in absolute terms and as a proportion of the American population, Hispanic representation in the boardrooms at the nation's biggest companies is not keeping pace, according to a survey by HispanTelligence.

Each year, Hispanic Business magazine compiles its Boardroom Elite, a listing of Hispanics serving as directors of companies appearing in the Fortune 500. This year there are 70 members on 100 seats, compared to 67 people on 96 seats in January 2006 and 69 on 95 seats in 2005.

Some notable departures include both Hispanics (Maria Elena Lagomasino and J. Pedro Reinhard) from the Coca-Cola Company board, Hector Ortino leaving his seats at New York Life and Parker Hannifin, and former U.S. Energy and Transportation secretary Federico Pena exiting Principal Financial Group in May.

Some people are missing just because their company isn't on the Fortune 500 anymore. Enrique Falla had sat on Guidant's board, for example, but that medical device maker was purchased by Boston Scientific. And Beatriz Rivera, long a fixture at Albertsons, is off now that a private equity firm took the supermarket chain private.

One member, William D. Perez, left one high-profile position but landed on his feet elsewhere. The former S.C. Johnson chief took a widely heralded CEO and board position at Nike last year, left that position after a falling out with Nike's founder, and later in the year was picked up as CEO and director at Wrigley.

Mr. Perez is also one of six on the list who are "inside" directors, i.e. they are officers of the company and ex officio board members. Others include Cristobal I. Conde, CEO of SunGard Data Systems; Paul J. Diaz, CEO of Kindred Healthcare; Richard A. Gonzalez, COO of Abbott Labs; Amtonio M. Perez, CEO of Eastman Kodak; and Hector de Jesus Ruiz, CEO of AMD.

Kodak, by the way, also has the most Hispanics on its board of any Fortune 500 company, with three, including its CEO.

A handful of people on our list sit on four Fortune 500 boards, including Linda G. Alvarado, Armando Codina, Enrique Hernandez Jr., and Roland A. Hernandez.

The following list includes all the Hispanics sitting on the boards of Fortune 500 companies, along with the companies. This is not an exhaustive list of all companies on whose boards they sit, although in some cases we've included non-Fortune 500 companies that are either high profile or up and coming.


Donna M. Alvarado
Currently: Former federal official is founder and president of business consulting firm Aguila International
Boards: CSX Corp. , Corrections Corp. of America

Linda G. Alvarado
Currently: Founder, president and CEO of Denver-based Alvarado Construction
Boards: The Pepsi Bottling Group; 3M; Pitney Bowes Inc.; Qwest Communications International Inc. ; Lennox International

Aida Alvarez
Currently: Writer and banker formerly head of Small Business Administration
Boards: Wal-Mart Stores Inc. ; Union BanCal, PacifiCare Health Systems

Ralph Alvarez
Currently: President and COO of McDonald's Corp.
Board: KeyCorp

Magdalena Averhoff
Currently: Miami-based physician specializing in gastroenterology
Board: HCA Inc.

Mario L. Baeza
Currently: Founder and controlling shareholder of merchant bankers Baeza & Co. and chairman of TCW/Latin America Partners
Boards: Air Products and Chemicals; Tommy Hilfiger

Abelardo E. Bru
Currently: Retired as vice-chairman of PepsiCo in 2005
Boards: Kimberly-Clark Corp; Office Depot

Paul A. Brunner
Currently: President and CEO of Spring Capital Inc.
Board: Johnson Controls Inc.

Pastora San Juan Cafferty
Currently: Professor emerita in social service administration at the University of Chicago
Boards: Kimberly-Clark Corp.; Waste Management Inc. ; People's Energy Corp.; Harris Financial

Louis Caldera
Currently: The former secretary of the Army stepped down as president of the University of New Mexico in August
Boards: Southwest Airlines, Belo, IndyMac Bancorp.

Richard L. Carrion
Currently: Chairman, president and CEO of Popular Inc. and chairman and CEO of Banco Popular de Puerto Rico
Board: Verizon Communications

Gilbert F. Casellas
Currently: Former chair of the U.S. EEOC is counsel for the law firm of Mintz Levin Cohn Ferris Glovsky & Popeo
Board: Prudential Financial Inc.

Kimberly A. Casiano
Currently: President and COO of Puerto Rico's Casiano Communications
Board: Ford Motor Co.

Paul L. Cejas
Currently: Chairman and CEO of PLC Investments
Board: Mellon Financial Corp.

Linda Chavez
Currently: Author and onetime nominee to be U.S. Secretary of Labor is president of the Center for Equal Opportunity
Board: Pilgrim's Pride Corp.

Henry G. Cisneros
Currently: Former San Antonio mayor and U.S. secretary of HUD is founder and chairman of CityView America
Board: Countrywide Financial Corp.

Armando M. Codina
Currently: Founder, chairman and CEO of real estate investment firm Codina Group
Boards: AMR Corp.(American Airlines); BellSouth Corp.; General Motors Corp.; Merrill Lynch & Co. Inc.

Ferdinand Colloredo-Mansfeld
Currently: Retired chairman and CEO of Cabot Industrial Trust
Board: Raytheon Co.

France A. Cordova
Currently: Chancellor at University of California, Riverside
Boards: Edison International; Belo

Cristobal I. Conde*
Currently: President and CEO of SunGard Data Systems
Board: SunGard Data Systems Inc.

Juan Ernesto de Bedout
Currently: Group president of Latin American operations for Kimberly-Clark
Board: VF Corporation

Nelson A. Diaz
Currently: Former judge now partner at Blank Rome LLP
Board: Exelon Corp.

Patricia Diaz Dennis
Currently: SVP and assistant general counsel for labor and employment matters for AT&T Services
Boards: Massachusetts Mutual Life Insurance; UST Inc.

Paul J. Diaz*
Currently: President and CEO of Kindred Healthcare
Board: Kindred Healthcare Inc.

Ruben M. Escobedo
Currently: Owner of Ruben Escobedo & Company CPAs
Boards: Valero Energy Corp. ; Cullen/Frost Bankers

Manuel A. Fernandez
Currently: Former CEO of Gartner group is managing director of SI Ventures
Boards: Black & Decker Corp.,
Brunswick Corp.
, Flowers Foods

Raul J. Fernandez
Currently: Chairman and CEO of ObjectVideo
Board: Liz Claiborne

David I. Fuente
Currently: Former CEO of Office Depot
Boards: Office Depot; Ryder System

Hector Garcia-Molina
Currently: Professor of computer science and electrical engineering at Stanford University
Boards: Oracle Corp. , Kintera

Richard A. Gonzalez*
Currently: President and COO of Abbott Laboratories
Board: Abbott Laboratories

Charles Herington
Currently: SVP, Latin America with Avon
Boards: Molson Coors Brewing Company; ADVO Inc.

Enrique Hernandez Jr.
Currently: Chairman, president and CEO of Inter-Con Security Systems
Boards: McDonald's Corp.; Nordstrom Inc.; Tribune Co.; Wells Fargo & Co

Richard J. Hernandez
Currently: Retired president of McKesson Corporate Solutions
Board: Radio Shack Corp.

Robert M. Hernandez
Currently: Retired CFO of USX Corp.
Boards: Eastman Chemical; ACE Limited

Roland A. Hernandez
Currently: Retired C-EO of Telemundo
Boards: Lehman Brothers Holdings; MGM Mirage; The Ryland Group; Wal-Mart Stores Inc. ; Vail Resorts

Sally Hernandez
Currently: Executive director of New York-based food charity City Harvest
Board: Consolidated Edison

William Hernandez
Currently: SVP for finance at PPG Industries
Board: Eastman Kodak Co.

Alberto Ibarguen
Currently: Former Miami Herald publisher is president and CEO of the John S. and James L. Knight Foundation
Boards: PepsiCo; Norwegian Cruise Lines

Maria Elena Lagomasino
Currently: CEO of SunTrust Banks,Asset Management Advisors
Board: Avon Products Inc.

Monica Lozano
Currently: Publisher and CEO of La Opinion
Boards: Bank of America Corp; Walt Disney Co.

Roman Martinez
Currently: Private investor and former managing director at Lehman Bros.
Boards: CIGNA Corp. ; Alliant Techsystems

Steven Martinez
Currently: Managing general partner of the Apollo Investment Funds
Board: Allied Waste Industries Inc.

Vilma S. Martinez
Currently: Partner in the law firm of Munger, Tolles & Olson
Boards: Anheuser-Busch Cos.; Burlington Northern Santa Fe; Fluor Corp.

Eduardo R. Menasce
Currently: Retired president of Enterprise Solutions Group of Verizon Communications
Boards: KeyCorp; Pitney Bowes Inc. ; Hillenbrand Industries; John Wiley & Sons

Benjamin F. Montoya
Currently: Retired admiral is CEO of SmartSystems Technologies
Board: Jacobs Engineering Group

Jorge P. Montoya
Currently: President of global snacks & beverages and of Latin America for Procter & Gamble
Boards: Gap Inc.; Rohm & Haas

Regina Montoya
Currently: CEO of the New America Alliance
Board: Washington Mutual Inc.

Albert F. Moreno
Currently: Retired SVP and general counsel of Levi Strauss & Co
Board: Xcel Energy Inc.

George Munoz
Currently: Former assistant Treasury secretary is principal of Munoz Investment Banking Group
Boards: Altria Group Inc.; Marriott International; Anixter; Archipelago Holdings

Oscar Munoz
Currently: CFO of CSX and CSX Transportation
Board: Continental Airlines

Luis G. Nogales
Currently: Managing partner of Nogales Investors
Key Boards: Edison International; KB Home Inc.; Arbitron

Hilda Ochoa-Brillembourg
Currently: Founder, president and CEO of Strategic Investment Group
Boards: General Mills; The McGraw-Hill Cos.

Katherine D. Ortega
Currently: Former Treasury secretary
Boards: Kroger Co.; Rayonier

Antonio M. Perez*
Currently: CEO of Eastman Kodak
Boards: Eastman Kodak Co.;
Freescale Semiconductor Inc.

Jorge M. Perez
Currently: President of real estate developers The Related Group of Florida
Boards: Regions Financial; Union Planters

Laree Perez
Currently: Managing partner at investment managers The Medallion Company
Boards: Reliant Energy; Martin Marietta Materials

William D. Perez*
Currently: CEO of Wm. Wrigley Jr. Company
Boards: Wm. Wrigley Jr. Company; Hallmark Cards

Ramiro Peru
Currently: EVP at Phelps Dodge Corp.
Board: Wellpoint Inc.

Jerry I. Porras
Currently: Professor emeritus at Stanford University's Graduate School of Business
Boards: State Farm Insurance Co.; Quaker Fabric

J. Pedro Reinhard*
Currently: EVP at Dow Chemical Company
Boards: Colgate-Palmolive; Dow Chemical; Royal Bank of Canada, Sigma Aldrich Corp.

J. Christopher Reyes
Currently: Chairman of food and beverage distributors Reyes Holdings
Boards: Allstate Corp.; Tribune Co.; Wintrust Financial

Hector de J. Ruiz*
Currently: CEO of Advanced Micro Devices
Boards: Advanced Micro Devices; Eastman Kodak Co.

Francesca Ruiz de Luzuriaga
Currently: Former COO for Mattel Interactive is an independent business development consultant
Board: OfficeMax Inc.

Carlos Saladrigas
Currently: Chairman of Premier American Bank
Boards: Advance Auto Parts Inc.; Progress Energy Inc.

Patricia Salas Pineda
Currently: Vice president of corporate communications and general counsel of Toyota Motor of North America
Board: Levi Strauss & Co.

J. Phillip Samper
Currently: Founding partner of Gabriel Venture Partners
Board: Interpublic Group of Cos.

Maria Sastre
Currently: VP International - Latin America and Asia, Sales and Marketing for Royal Caribbean International and Celebrity Cruises
Boards: Darden Restaurants; Publix Supermarkets Inc.; Laidlaw

Ann Marie Tallman
Currently: The attorney and former president of MALDEF is the founder and partner of developer Tallman Homes.
Boards: JC Penney Company

Solomon D. "Sol" Trujillo
Currently: CEO of Telstra Corp.
Boards: Target Corp.; Telstra

Albert C. Zapanta
Currently: President and CEO of the United States-Mexico Chamber of Commerce
Board: Tyson Foods Inc.

*Inside Director
Boards of Fortune 500 companies in italics

2007 Hispanic Business Inc. Copying, reprinting, or transmitting all or part of this information requires written permission.

Source: HISPANIC BUSINESS Magazine and, Copyright (c) 2006 All Rights Reserved.

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