News Column

Holding Pattern

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Despite Wall Street summit conferences, speeches by politicians and regulators, and organized lobbying efforts, Hispanic representation in the boardroom remains stagnant. According to this year's Boardroom Elite list:

•Hispanics hold 96 seats on the boards of Fortune 500 corporations – one more seat than in January 2005 and equal to the number in 1999, with only slight fluctuations in the intervening years.
•A total of 67 Hispanic individuals hold these 96 seats, two fewer than last year.
• The number of major corporations with at least one Hispanic on the board is now 87, one less than last year.

Other findings are that:
• Eastman Kodak has the "most-Hispanic" board, with three Hispanic members.
•Seven other corporations report having two Hispanic board members: Coca-Cola, Edison International, Ford, Kimberly-Clark, Office Depot, Pitney-Bowes, and Wal-Mart.
• Companies that added a Hispanic board member in 2005 include McGraw-Hill, New York Life, Laidlaw, Office Depot, Kimberly-Clark, Wyeth, Merrill Lynch, Oracle, and PepsiCo.
• Construction magnate Linda Alvarado, real estate consultant Armando Codina, and investor Enrique Hernandez share the honor of serving on four Fortune 500 boards.
• Only three individuals on the directory serve as "inside directors" (directors who are executives of the firm or major stakeholders): J. Pedro Reinhard, who is CFO of Dow Chemical; Antonio Perez, CEO of Eastman Kodak (also featured in the 2006 Corporate Elite); and William Perez, CEO of Nike.

Top Companies for Hispanics
In September 2005, Hispanic Business published its first-ever directory of the Top 40 Companies for Hispanics. Criteria for inclusion in this directory addressed a corporation's Hispanic leadership, recruitment, and promotion; supplier diversity; and Hispanic-oriented marketing and philanthropy. Twenty of the Top 40 Companies have a member on this year's Boardroom Elite directory.

To qualify for the Boardroom Elite, the individual must be a U.S. citizen of Hispanic descent who sits on the board of a Fortune 500 corporation headquartered in the 50 states or the District of Columbia.

Hispanic Business Boardroom Elite directory research was conducted by Chief Economist Juan Solana, Business Economist Andrea Lehman, Research Supervisor Michael Caplinger, and Senior Research Assistant Cynthia Marquez.

Linda G. Alvarado
3M (Minnesota Mining and Manufacturing Co.)
The Pepsi Bottling Group
Pitney Bowes
Qwest Communications

Aida Alvarez
PacifiCare Health Systems Inc.

Magdalena Averhoff
HCA Inc.

Mario L. Baeza
Air Products and Chemicals Inc.
Abelardo E. Bru
Office Depot Inc.
Kimberly-Clark

Paul A. Brunner
Johnson Controls

Pastora San Juan Cafferty
Kimberly-Clark
Waste Management Inc.

Louis Caldera
Southwest Airlines

Richard L. Carrion
Verizon Communications
Wyeth

Gilbert F. Casellas
Prudential Insurance Co. of America

Kimberly A. Casiano
Ford Motor Co.
Paul L. Cejas
Mellon Financial Corp.

Henry G. Cisneros
Countrywide Credit Industries

Armando M. Codina
AMR Corp. (American Airlines)
BellSouth
General Motors
Merrill Lynch & Co. Inc.
Ferdinand
Colloredo-Mansfeld
Raytheon
France A. Cordova
Edison International

Juan Ernesto de Bedout
VF Corp.

Nelson A. Diaz
Exelon
Patricia Diaz Dennis
Massachusetts Mutual Life Insurance Co.

Ruben M. Escobedo
Valero Energy
Enrique C. Falla
Guidant Corp.

Manuel A. Fernandez
Black & Decker
Brunswick
Raul J. Fernandez
Liz Claiborne

David I. Fuente
Office Depot
Ryder System
J.E. "Gene" Gallegos
Northwestern Mutual Life Insurance Co.

Hector Garcia-Molina
Oracle Corp.
Charles M. Herington
Coors Brewing Co.

Antonia Hernandez
Golden West Financial Corp.

Enrique Hernandez Jr.
McDonald's
Nordstrom
Tribune Co.
Wells Fargo & Co.

Richard J. Hernandez
Radio Shack

Roland A. Hernandez
Wal-Mart Stores Inc.
MGM Mirage

William Hernandez
Eastman Kodak Co.

Sally Hernandez-Piñero
Consolidated Edison

Alberto Ibarguen
PepsiCo

Maria Elena Lagomasino
Avon Products
Coca-Cola Co.
Monica Lozano
The Walt Disney Co.

Vilma S. Martinez
Anheuser-Busch Cos.
Burlington Northern Santa Fe
Fluor Corp.

Eduardo R. Menasce
Pitney Bowes
Benjamin F. Montoya
Jacobs Engineering Group

Jorge P. Montoya
Gap
Rohm & Haas

Albert F. Moreno
Xcel Energy
George MuNoz
Marriott International

Oscar Munoz
Continental Airlines
Luis G. Nogales
KB Home
Edison International

Hilda Ochoa-Brillembourg
General Mills
The McGraw-Hill Cos.

Katherine D. Ortega
Kroger Co.

Hector R. Ortino
New York Life Insurance Co.
Parker Hannifin Corp.

James J. Padilla
Ford Motor Co.

Federico Pena
Principal Financial Group

Antonio M. Perez
Eastman Kodak Co.*
Laree E. Perez
Reliant Resources

William D. Perez
Kellogg Co.
Nike Inc.*

Ramiro Peru
WellPoint Inc.
Jerry I. Porras
State Farm Insurance Co.

J. Pedro Reinhard
Dow Chemical Co.*
Coca-Cola Co.

J. Christopher Reyes
Allstate Insurance Co.

Beatriz Rivera
Albertson's

Edward L. Romero
Bank of America

Hector de J. Ruiz
Eastman Kodak Co.

Francesca Ruiz de Luzuriaga
OfficeMax

Carlos Saladrigas
Progress Energy Inc.

J. Phillip Samper
Interpublic Group of Cos.

Maria Sastre
Darden Restaurants
Laidlaw International Inc.

Solomon D. "Sol" Trujillo
Target
Gannett

Jose Villarreal
Wal-Mart Stores Inc.

Raul Yzaguirre
Sears Roebuck and Co.

Albert C. Zapanta
Tyson Foods Inc.

*Inside Director

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