Latina Style
Gloria Romano
11/15/2006 - Latina Leadership in the Boardroom
HACR developed a partnership with the Harvard Business School (HBS), creating a comprehensive executive education program geared to Hispanics with the goal of increasing the effectiveness and presence of Hispanics in corporate boardrooms.
http://www.latinastyle.com/currentissue/v12-6/boardroom2.html
In 2003, HACR developed a partnership with the Harvard Business School (HBS), creating a comprehensive executive education program geared to Hispanics with the goal of increasing the effectiveness and presence of Hispanics in corporate boardrooms. The HACR/HBS Executive Education Program on Corporate Governance: Leadership in the Boardroom is part of HACR’s overall initiative on corporate governance, which includes research on Hispanics serving on major public companies’ boards, relationships with executive search firms, and a database of Hispanic board candidates.
“Education is the most important issue affecting the Hispanic Community,” says Carlos Orta, president and CEO of HACR. “This program has trained dozens of Latinas and Latinos from all over the country on how to be effective board members. Latinas from business, academic, public and private sectors have participated in this program and have expanded their circles of influence. Latinas have incredible influence over household spending decisions, both when it comes to consumer goods and big-ticket items. If Corporate America is to fully understand the buying power and preferences of the Hispanic community, having a Latina on their board provides that company with a strategic and competitive advantage.”
Overall, 38 percent of the participants have been Latinas and over 150 Hispanics have graduated from the program. As participants, they have explored critical issues ranging from board composition, director selection, and compensation, to the board’s role in strategic planning, overseeing financial reporting and disclosure, and top-management succession. Participants leave the program with skills and strategies for adding significant value to their boards and specific ideas for improving them.
Here are the personal voices of seven Latinas who have participated in this program.
Nina Vaca, CEO of Pinnacle Technical Resources, Inc. is an alumna of the class of 2006. For Vaca, the program is extremely beneficial to any executive who is interested in serving on a corporate board. “U.S. Latinas are powerful,” she says. “Harvard’s executive program fits nicely with the increasing role that Latinas will play in Corporate America.”
As both a business and civic leader, Vaca has spent a decade of her life giving back to the community, not only through her business, but also as an advocate. “As a successful business person, I have a responsibility to advocate for others. The best way I can do that is to have a seat at the table.” Vaca says. “This program supports those goals and provides participants with the tools to accomplish them.”
Vaca believes strongly that the educational opportunities provided to Latinas today will directly determine their influence in the decades to come. “That is why the Harvard Business School, HACR, and similar programs are so important,” she says. “The most important tool we can provide ourselves is an education.”
Evident as well is the fact that Harvard greatly benefits from hosting a group of accomplished Latinas and Latinos. Their contribution to the program brings to Harvard an experience and a point of view that is seldom heard in one of the most prestigious educational institutions in the world.