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Menendez Reports On Corporate Diversity

August 5, 2010: Sen. Robert Menendez has released a "Corporate Diversity Report" with the results of a survey of 537 companies that appeared in the Fortune 500 in 2009 and 2010. At the five media/entertainment/marketing companies that responded, says the report, 13 of the 59 board seats are held by women and 11 by minorities. On those companies' executive teams, 11 of 58 positions are held by women and three by minorities.

Menendez said the purpose of the survey, which also looked at, among other industries, energy, financial services, telecommunications, and technology, "is very straightforward -- to gain a better understanding of what minority and female representation looks like on corporate boards, in senior leadership and in the procurement of goods and services. "

Though the survey was voluntary and responses were confidential, Menendez listed in the report the names of the companies that were asked to participate and either did not respond or submitted "a letter or something other than a response to the questionnaire."

The Minority Media and Telecommunications Council praised Menendez's efforts and supported his recommendations, which include "investing in and getting to know diverse communities" and cultivating relationships with organizations that work in diverse communities, along with implementing corporate mentoring programs and linking bonuses to achieving improved diversity.

The MMTC statement also notes, "MMTC and a host of other national organizations have long urged the FCC to collect and disseminate minority and women employment data for media and telecom companies and thereby help these industries remain competitive domestically and internationally. As Senator Menendez stated in his report, 'Those corporations that have boards and senior management that are reflective of today's demographics will be better positioned to compete amid a changing market.'"

 



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