Negocios Now

www.negociosnow.com 6 Febrero 2020 NegociosNow NegociosNow C hicago, (HINA)- At Chicago City Coun- cil Aldermen Gilbert Villegas (36thWard) and Jason Ervin (28thWard) united with over 30 members of the City Council Latino, Black, and Progressive Caucuses as well as key stakeholders to call for increased diversity among corporate and institutional boards within companies that are both publicly traded or privately held conducting business in the City of Chica- go as well as City of Chicago departments, agencies, board and commissions. "Businesses that call Chica- go home should have a Board of Directors that reflects the diversity of our City. Chicago's economy as a whole would be further strengthened if corpo- Calling for diversity among corporate and institutional boards Alderman Villegas and Alderman Ervin Introduce a resolution calling for diversity among corporate and institutional boards. Chicago City Council Caucuses Unite for Increased Racial, Ethnic, and Gender Diversity rate governance began to look more like our City," said Alder- man Villegas. "Our Council is a great example of that, we have council members that are completely diverse. It is our diversity that gives us strength and inclusivity in the board room is an asset." Alderman Jason Ervin, Chairman of the Black Cau- cus concurred, " We stand here in support because diversity does matter. I look forward to having hearings on this mat- ter. Not to call in private com- panies to attack them. Rather, to bring in examples of good governance and give them a chance to explain to people in their own industries why board diversity will help their bottom line." The resolution states that any and all matters of large public and private companies that come before this Coun- cil, or any other City Agen- cy or Department, take into account the efforts and record of racial, ethnic and gender diversity of the Board of Direc- tors of such large public and private companies in granting any City business, permit or license. The Council Resolution (R2020-167) looks to compli- ment HB 3394, that state law that requires public corpora- tions headquartered in Illinois to disclose the ethnicity, race and gender of their board of Directors. As a direct result of the passage of this law, the University of Illinois will now grade corporations headquar- tered in the state on their diversity. The Aldermen were joined by a coalition of diverse execu- tive and community leaders. David Arenas, Latino Leaders- hip Council (LLC) Board Mem- ber, put it most simply, "We live in a diverse society. The business case for board diver- sity is supported by research that shows increased produc- tivity and profitability in com- panies that embrace diversity. Diversity attracts more top talent; different experiences lead to innovation and increa- sed customer connection and satisfaction." " Good governance requires diversity and people of color to serve on Corporate Boards and there are qualified indivi- duals that are ready to serve. Diversity is an asset and we are a resource", said Esther Agui- lera – Director, Latino Corpo- rate Directors Association. April edition LATINOS ON BOARD Print & Digital edition Publication date: April 27 Space deadline: April 10 Material deadline: April 17 For sponsorship opportunities, contact Kelly Yelmene at kyelmene@negociosnow.com

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