The Briefing Room: Border Wall, Equality Act, Veteran Suicide, Brown vs. Board anniversary

ABC News

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Nissan’s Saikawa to stay on as president, Renault chief to join board: sources

Japan’s Nissan Motor Co will keep Hiroto Saikawa on as president and will bring in the chief executive of alliance partner Renault SA as a board member, two sources briefed on the matter said on Friday.


Reuters: Business News

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In the Wake of the Gimelstob Mess, Here’s How the ATP Board Could Restore Credibility

As the Justin Gimelstob case made abundantly clear, men’s tennis’ leadership structure is broken. Here’s what can be done. 

Latest News

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Former White House chief of staff joins unaccompanied migrant children shelter board

Former White House chief of staff John Kelly has joined the board of directors for a company that operates shelters for undocumented migrant children.
ABC News: Top Stories

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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War raging between Gannett board, MNG amid hostile takeover bid

All out war is raging between the Gannett board and Alden Global-backed MNG Enterprises, which is trying to pull off a hostile $ 1.36 billion takeover bid of the USA Today publisher. Both sides picked up new support for their causes Thursday as the proxy battle of newspaper titans enters its final two weeks before the…
Media | New York Post

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Bloodborne: The Board Game Hits Kickstarter Goal in Under 20 Minutes

Bloodborne: The Board Game, which is based on the PlayStation 4 title by FromSoftware, has reached its Kickstarter goal of $ 200,000 in less than 20 minutes.

As of this writing, the Kickstarter is currently sitting at $ 588,317 with 21 days to go in its campaign. Considering it is already successfully funded – in 17 minutes to be exact – those who back this project can expect to receive the game around May 2020.

Designed by Michael Shinall and Eric M. Lang, Bloodborne: The Board Game will allow one to four Hunters (players) the chance to explore Yharnam in a whole new way, although still with the same terrors, beasts, monsters, and more of the PS4 title, including the Cleric Beast, Vicar Amelia, Father Gascoigne and the Blood-Starved Beast.

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Herman Cain withdraws from consideration for Fed board, Trump says

At least four Republican senators had come out against his nomination, meaning he likely could not have been confirmed.
Economy

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PayPal Exec, Peggy Alford, Poised to Become First Black Woman to Sit on Facebook’s Board

Peggy Alford, the senior vice president, core markets at PayPal—has been tapped to serve on Facebook’s board of directors—and is in position to become the first black woman to sit on its board.

Alford has the backing of Facebook CEO Mark Zuckerberg. In a released statement the Facebook founder said, “Peggy is one of those rare people who’s an expert across many different areas — from business management to finance operations to product development. I know she will have great ideas that help us address both the opportunities and challenges facing our company.”

She has been with PayPal since 2019 and also was the chief financial officer and head of operations for the Chan Zuckerberg Initiative—a philanthropic organization founded by Mark Zuckerberg and his spouse Priscilla Chan.

A Silicon Valley veteran, Alford has also held executive positions at eBay and Rent.com. She hails from a family of six children. Her mother has a doctorate’s degree in mathematics and computer science from the University of Pittsburgh.

Alford has a bachelor’s degree in accounting and business administration from the University of Dayton in Ohio where she ran track and cross country. Focused on her career for much of her life, she had her first child at 41 and her second when she was 45. In an interview posted on PayPal’s website she spoke about work-life balance, “Balance can be extremely difficult for working mothers trying to find that happy medium of continuing to advance their careers and doing what they feel they need to do at home. Often women will opt out or feel like they can’t seek out that next big opportunity because it may take away from their responsibilities at home.”

“What excites me about the opportunity to join Facebook’s board is the company’s drive and desire to face hard issues head-on while continuing to improve on the amazing connection experiences they have built over the years,” she said in a statement. “I look forward to working with Mark and the other directors as the company builds new and inspiring ways to help people connect and build community.”

Alford will still have to be voted to the board during the next Facebook shareholders’ meeting. Typically, nominees, particularly ones supported by a company’s CEO are appointed to the board so her position as a board member is likely.

Upon her official appointment, Alford would be the second African American on Facebook’s board. Last year, retired American Express CEO Ken Chenault joined the social media company’s board. Zuckerberg said at the time that he has been trying to recruit Chenault “for years.”

Alford is on the Black Enterprise 2018 Registry of Corporate Directors for her role as a member of the board of The Macerich Co., a real estate investment trust.

RELATED: POWER IN THE BOARDROOM: REGISTRY OF BLACK CORPORATE BOARD MEMBERS

 

The post PayPal Exec, Peggy Alford, Poised to Become First Black Woman to Sit on Facebook’s Board appeared first on Black Enterprise.

Career | Black Enterprise

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FAA board approves new 737 MAX training

Newsy

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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A Fourteen-Year-Old’s Empowering Vision Board to End Racism | Book of John Gray | OWN

OWN

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Herman Cain says he faces ‘cumbersome’ vetting for Fed board seat

Former Republican presidential candidate Herman Cain said he will face a “cumbersome” process as he is vetted for a seat on the Federal Reserve Board.


Reuters: Politics

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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Tapped to Sit on Fed Board, Herman Cain Straddles Fence Between Business Success and Political Controversy

Perhaps no other black business person stirs up more polarizing debate than Herman Cain. The former head of Godfather’s Pizza, stepped into the political limelight in 2011 when he announced his candidacy as the Republican presidential nominee. That effort was thwarted by a series of sexual harassment allegations against Cain. Yet, he has re-emerged on the national stage as a proposed pick by President Trump to sit on the Federal Reserve Board. A success in business, yet, a failure in politics—is now the time for Herman Cain to rise to political prominence?

Herman Cain’s Business Backstory

Cain was named president of the then-failing Godfather’s Pizza chain in 1986. In an article from Black Enterprise in 1988 on Cain: “Fresh from rejuvenating Pillsbury’s Burger King chain in the Philadelphia region, the energetic, enthusiastic new president of Godfather’s went immediately to work closing weak outlets, strengthening the company’s advertising thrust, repairing relations with franchisees and swiftly resolving legal conflicts.”

Herman Cain

Black Enterprise Magazine

Without question, Cain has proven he possesses sharp business acumen. Under his leadership, Godfather’s Pizza saw a reversal in sales decline and generated $ 260 million in sales.

He demonstrated business savvy early on. The Morehouse College graduate served a short period in the Navy and then went on to complete a master’s degree in Computer Science at Purdue University. His first corporate position was as a business analyst at Coca-Cola.

Cain’s business talents came to light during his next gig at Pillsbury where he advanced to vice president status within five years.

Entrepreneurial Mindset

Although he quickly ascended the corporate ladder, Cain also had an entrepreneurial spirit. He set his sights on the fast food business—even becoming a member of a Burger King kitchen crew to learn the ins and outs of the hamburger business. Within seven months, he was promoted to regional vice president.

“You’ve got to have a passion for that business, followed by a desire to make it to the top,” he said in an interview with Black Enterprise in 1988. “Then you will do whatever you need to do in order to get there.”

He eventually bought the Godfather’s Pizza chain from its parent company, Pillsbury for an estimated $ 50 million. The transaction was the first leveraged buyout of a major fast-food company by a black executive in business history.

Political Ambitions

Cain’s political ambitions were made clear when he ran as a Republican presidential nominee. Plagued by scandal, his campaign fell flat—perhaps one of the rare failures for the businessman.

Now, with the blessings of Donald Trump, it seems that Cain is poised to assume a prominent political and economic position at the Federal Reserve. How likely is his appointment and is he the person for the job?

No, says Catherine Rampell, a columnist for The Washington Post. And it isn’t just about the troubling sexual harassment allegations that took down his presidential run, she says.

“When it comes to understanding pretty basic policy issues, Cain isn’t able,” writes Rampell.

“Most people who remember anything about Cain’s brief political career might know him for the “9-9-9” tax rate plan. Unfortunately, neither did that plan have rates that were actually 9 percent nor did it turn out to be particularly strong in its arithmetic,” she continues.

A fellow Republican, Sen. Mitt Romney, also cast doubt about Cain’s fitness for the Fed. “I doubt that will be a nomination. But if it were a nomination, you can bet [what] the interest rates he would be pushing for,” Romney said in an interview.

“If Herman Cain were on the Fed, you’d know the interest rate would soon be 9-9-9.”

Some Republicans are more optimistic. Sen. David Perdue, a Georgia Republican, said about Cain; “He’s a business guy. He’s got a great background for it. I know him personally. I think personally he’d be a great addition,” according to Fortune.

Cain’s businesses successes have seemed to elude his success in politics. Is his appointment a serious consideration or another one of the mercurial President’s whims? And if appointed to the Fed, how effective can he be? That all remains to be seen.

Related: THE BLACK CONSERVATIVE WOMAN IN THE RUNNING TO LEAD MICHIGAN’S REPUBLICAN PARTY

 

The post Tapped to Sit on Fed Board, Herman Cain Straddles Fence Between Business Success and Political Controversy appeared first on Black Enterprise.

Career | Black Enterprise

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Billy Reid on a Growth Spurt as New Investors Come on Board

NEW YORK — It’s a new day at Billy Reid.
The Alabama-based designer recently sold a minority stake in his business and with that financial cushion is working with a new team to grow the brand to what he believes can be its full potential.
In addition to Joel Anderson, an Alabama businessman who has been a partner for close to a decade, the Kemmons Wilson Companies, a Memphis-based investment firm operated by the descendants of the founder of the Holiday Inn chain, recently invested as well. Kemmons Wilson also holds stakes in the Memphis Grizzlies NBA team, the Wiseacre Brewing Co., Central BBQ, Active Implants and businesses in the hospitality and insurance fields. It purchased an undisclosed percentage of the Billy Reid brand last year.
The latest company to provide funding is The Balvenie, Scotland’s premier single malt Scotch whisky. The deal, which is for one year but may be extended, will find Balvenie spirits being featured at Billy Reid’s 12 retail stores. It will sponsor his 11th annual Shindig festival in Alabama in August and host a series of in-store events in several stores.
Like many independent designer labels, Reid has struggled to find the cash to sustain and expand his business. Reid

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Lori Loughlin’s Daughter Olivia Leaves Yacht of USC’s Board of Trustees Chairman

As Lori Loughlin traveled from Vancouver to L.A. Tuesday night to surrender to federal authorities in the college bribery scandal — which got her daughter, Olivia Jade, into USC — Olivia spent the night on the yacht of the Chairman of USC’s Board…

TMZ.com

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Intellia CEO not involved in Starboard’s Bristol-Myers board challenge

Intellia Therapeutics Inc Chief Executive John Leonard, who U.S. drug maker Bristol-Myers Squibb Co said last week was nominated by hedge fund Starboard Value LP to sit on its board, is not affiliated with the effort, an Intellia spokeswoman said on Thursday.


Reuters: Business News

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Boeing Nominates Nikki Haley to Join Board of Directors

The U.S. may still not have a new U.S. Ambassador to the United Nations, but the former occupant of that position is keeping herself busy.

Nikki Haley has not only launched a new policy group and has a book coming out later this year, she has also been nominated to join Boeing’s board of directors.

Boeing announced her nomination on Tuesday. “Ambassador Haley brings to Boeing an outstanding record of achievement in government, industry partnership, and successfully driving economic prosperity for communities in America and around the world,” said Boeing Chairman, President and Chief Executive Officer Dennis Muilenburg.

“Boeing will benefit greatly from her broad perspectives and combined diplomatic, government and business experience to help achieve our aspiration to be the best in aerospace and a global industrial champion,” he added.

Haley, who resigned as ambassador to the UN at the end of last year, noted in her resignation letter that she was seeking a “step up” in the private sector. In a statement, she called her nomination to Boeing an “honor.”

Haley has previously held close ties with the corporation, helping it build new facilities in South Carolina when she served as the state’s governor. There remain approximately 7,000 Boeing employees in South Carolina.

Shareholders will vote on Haley’s nomination at Boeing’s annual meeting on April 29.

Fortune

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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U.N. Officials, Executives Discuss How to Get Board Members and Consumers Interested in Sustainability

United Nations officials and environmentally minded executives discussed some of the sustainability challenges in the CG&R industry Thursday afternoon at the United Nations.
In welcoming guests to the Baker McKenzie program, the U.N. Global Impact’s chief executive officer and executive director Lise Kingo spoke of the need for greater involvement. Founded nearly 20 years ago by former U.N. Secretary General Kofi Annan, the U.N. Global Compact works in conjunction with the private sector to give globalization a human face, Kingo said.
“Personally, this vision has never been more relevant than it is today. We are living in a world where we need a clear lighthouse that we can all steer towards that has the purpose of creating a world that leaves no one behind,” she said. “We believe approaching the 17 goals starts with embedding the 10 principles [which are rooted in human rights, labor, environment and anti-corruption] in the way that any business is run. It is the best guarantee for not being accused of doing a little greenwashing as opposed to taking one or two of the goals and putting them into a company’s annual report.”
The U.N. Global Compact has strengthened to more than 10,000 companies from 40, when it

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Serena Williams Serves Up Another Directorship: She Joins Poshmark’s Board of Directors

Serena Williams is flexing her influential muscles by adding another directorship under her belt—she has joined the board of directors of online social retail and reselling platform, Poshmark. This is Williams’s second directorship. In 2017, she joined the board of the online survey giant, SurveyMonkey.

The entrepreneur and sports icon is the first African American and first woman on Poshmark’s board. She will help guide the social commerce company in its plans for increased growth.

Poshmark announced her appointment to their board of directors on Wednesday, with founder and CEO Manish Chandra championing Williams as a welcome addition and a great fit for the company given her entrepreneurial prowess and passion.

“Poshmark was built by a community of strong, independent women just like Serena Williams,” said Manish Chandra, founder & CEO of Poshmark in a press release. “As both our company and community continue to grow, it’s important that we bring smart and diverse new voices to the table, and we couldn’t be more thrilled about what the future holds with Serena in our corner.”

The California-based online marketplace is powered by a community of 40 million people selling and buying used items. The platform currently hosts more than 75 million listings and also serves as a place where users can showcase their personal style. Since its founding in 2011, Poshmark says that it has distributed over $ 1 billion to its community of sellers.

Williams launched her own clothing line, SERENA, in 2018. This launch put her on Poshmark’s radar for potential involvement, and the company envisioned her to be a natural fit as it scales up its social commerce platform. Williams also saw this as an opportunity to make yet another impact.

“Poshmark is disrupting retail by making shopping and selling social again, and I love working with a company that gives anyone an opportunity to become an entrepreneur,” Williams said in a press release.

In a video about the announcement, Williams said she is excited to join Poshmark because the company speaks to her core values. “For me it was a no-brainer,” she said. Williams stated that she was already a Poshmark user for years, mostly as a buyer. But now she will officially become a seller on the platform.

In addition to joining Poshmark’s board, she is also launching a Posh Closet for Charity, benefiting the nonprofit she started in 2016, The Yetunde Price Resource Center, based in her Compton, California, hometown.

It’s a cause that’s dear to her: Empowering victims of violence by enabling them to receive access to resources that foster healing, resiliency, personal growth and transformation. The Yetunde Price Resource Center, the namesake of the Williams’s oldest sister, Yetunde, who was tragically killed by an act of violence in 2003, works with partner organizations to offer trauma-informed programs, including health and mental health providers, schools, and art therapy.

Fans will have the opportunity to shop clothing worn by Williams in her Posh Closet for Charity, including the floral kimono she wore to the 2017 French Open, dresses worn on the red carpet, a custom-made Gucci jacket, and many more items.

She will be donating all of her proceeds to the Yetunde​ ​Price Resource Center​. Those interested in shopping Serena’s closet, can check out https://posh.mk/SerenaWilliams​.

Below, see the reasons behind why Serena feels strongly about the company as she and Poshmark CEO Manish Chandra sit down to discuss her appointment to the board.

The post Serena Williams Serves Up Another Directorship: She Joins Poshmark’s Board of Directors appeared first on Black Enterprise.

Career | Black Enterprise

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Rosalind Brewer to Sit on Amazon’s Board

CNN is reporting that Amazon has named Rosalind Brewer, the current chief operating officer of Starbucks, and one of the most influential black women corporate executives, to its board. The news was revealed in a recent SEC filing. Brewer is only the second African American woman to sit on the company’s board in its 25-year existence; the first was Myrtle Potter, who served on the board from 2004 to 2009.

Brewer made history in 2012 when she was named as the president and CEO of Sam’s Club, becoming the first African American woman to be named as a CEO at one of Walmart’s divisions. Brewer announced her retirement from that role in January and joined Starbucks’ board. Shortly thereafter, she was appointed COO of the coffee chain.

Brewer was also listed on BLACK ENTERPRISE‘s 2015 50 Most Powerful Women in Corporate America and spoke at the 2013 BE Women of Power Summit.

A Personality for Business

The Detroit native and youngest of five children graduated from Spelman College in 1984 with a chemistry degree and thoughts of pursuing a career in optometry. Yet, she built a reputation as a strong consumer packaged goods professional at Kimberly-Clark Corp., maker of brand-name consumer products such as Kleenex and Huggies.

“I started out as an organic chemist for Kimberly-Clark, but during the interviewing process I really wanted to get into the business side,” she said in a 2012 interview with BE. “At the time, they were starting a research and development group in the Atlanta area and I decided to go with my discipline to just get the job. But I realized with my personality and how I interacted with teams that I had the ability to be more on the business side.”

In 2004, Brewer became president of Kimberly-Clark’s Global Nonwoven Sector, gaining oversight of manufacturing plants in Korea, Australia, Latin America, the U.K., and the United States. Her team focused on streamlining manufacturing operations and driving product innovations with commercial brands such as Huggies and Pull-Ups diapers and Kotex feminine products. The result: sales grew 28% from $ 900 million in 2003 to $ 1.15 billion in 2005.

Taking a Career Risk

In 2006, Brewer made a risky career move. She accepted an offer to join Walmart—a company in transition at the time, with falling sales and an embattled reputation, particularly around diversity practices.

By 2010, Walmart’s senior management realigned the organization to focus on consumer engagement and increasing scale; it grouped U.S. operations into three distinct areas. Brewer was tapped as president of its Eastern business unit, responsible for generating $ 110 billion in revenue through the operation of 1,600 stores—from Puerto Rico to Maine—and the management of nearly 500,000 associates. Her next promotion would make history. After Brian Cornell resigned as head of Walmart’s Sam’s Club subsidiary, Brewer was installed as president and CEO of Walmart’s Sam’s Club, a $ 53.8 billion division representing 12% of Walmart’s business

Upon the announcement of Brewer’s appointment to Sam’s Club, one of the first congratulatory calls she received was from another powerful executive, Ursula Burns, the former chairman and CEO of Xerox Corp.

“She probably doesn’t know how much I idolize her. I wasn’t breathing while I was speaking to her on the phone,” Brewer said at the time.

“She spent time telling me some of the pitfalls and how to manage myself and how to say no to certain things.” Burns, the only African American woman to run one America’s largest publicly traded corporations, also invited the newly minted CEO to her offices for some extended mentoring.

When Brewer decided to change industries, becoming a CEO was never her goal. She has always been professionally driven by a need for autonomy and an ability to make an impact within an organization. After more than two decades at Kimberly-Clark, she hit a dead end. Brewer recalls: “I knew I needed to do something totally different. I wanted to test out the things that I’d learned. After 22 years you’re usually in a silo and jump out of desperation. I didn’t realize how prepared I was until I did it.”

 


Editor’s Note: This article was revised on Feb. 8, 2019, to correct the original headline and text, which incorrectly noted Rosalind Brewer as the first black woman appointed to Amazon’s board. Myrtle Potter, who served on the board from 2004 to 2009, was the first African American woman appointed to the board. Brewer is the second.

 

 

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The post Rosalind Brewer to Sit on Amazon’s Board appeared first on Black Enterprise.

Career | Black Enterprise

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Bezos story is a ‘warning’ to Amazon board to make a succession plan: Yale’s Jeff Sonnenfeld

Amazon should start thinking about CEO Jeff Bezos' successor, says Yale's Jeff Sonnenfeld. But that doesn't mean he thinks Bezos should go.
Top News & Analysis

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Cardiff City’s Sala was on board missing plane: French sources

Premier League soccer player Emiliano Sala was on board a single-engine light aircraft that lost radar contact while flying over the English Channel late on Monday evening, a French police official and a second source said.


Reuters: Sports News

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Fortune 500 Company Corporate Board Diversity at All-Time High

A new report from the Alliance for Board Diversity (ABD) and Deloitte, reveals that women and people of color represent 34% of all corporate board seats in Fortune 500 companies—placing board diversity at an all-time high.

Here are some key findings from the study:

-Black woman gained 32 board seats in 2018, an increase of 26.2% from 2016.

-Black men gained 26 board seats in 2018, an increase of 8.5% from 2016.

-Black and Asian women achieved the largest increase in board seats; black women at a 44.8% increase, and Asian women at a 30.8% increase.

-Companies are increasingly re-appointing minority board members to their boards rather than seeking out new directors.

“The increase in boardroom diversity over the last two years is encouraging, but we must not overlook that Caucasian/White men still hold 66% of all Fortune 500 board seats and 91.1% of chairmanships on these boards,” said Linda Akutagawa, chair for the Alliance for Board Diversity and president and CEO, LEAP (Leadership for Asian Pacifics).

“While progress has been achieved, there is still much more work to do,” said Deb DeHaas, vice chairman and national managing partner, Deloitte Center for Board Effectiveness.

‘Wokeness’ in the Boardroom 

Corporate America has been responsive to the wave of activism, particularly across social media, in regards to racism, sexism, economic inequality, and various other societal ills. Last year, Nike interjected itself into the heated debate over NFL players kneeling during the national anthem pre-game, to protest police brutality. The athletic apparel company made the symbol of the kneeling movement, Colin Kaepernick, a star in one of its ad campaigns.

The risk of offending customers who disagree with protesting on the field seemed to be worth taking. Nike’s sales increased 31% after the Kaepernick ad backlash.

Recently, Gillette, a Procter & Gamble brand, released an ad in line with the #MeToo movement, urging men to take responsibility for sexist behavior of other men. The ad is inciting both praise and outrage.

It’s not yet known how the controversial ad will affect P&G’s bottom line; the company is set to release its Q2 earnings next week (but so far, Wall Street speculation is favorable).

Burger King is the latest company to wade into political waters after posting a tweet poking fun at a misspelled tweet of Donald Trump’s.


CNN coined this ad trend “woke advertising.” This “wokeness” has presumably made it into the corporate boardrooms as the growing diversity board diversity numbers seem to evidence.

Despite Spate of Black Executive Board Appointments, Challenges Persist

A number of high-profile black executives have been appointed to the boards of some of the world’s largest companies. Last November, Nike announced the appointment of John W. Rogers, the CEO and founder of Ariel Investments L.L.C. to its board. Retired AMEX CEO Ken Chenault sits on the boards of Facebook and Airbnb. Edith Cooper, the executive vice president and global head of human capital at Goldman Sachs was added to Silicon Valley company Slack’s board. View a full listing of black board members on BLACK ENTERPRISE’s 2018 Registry of Corporate Directors.

As progress is made, challenges remain. One issue is that most board appointments come from the C-suite level and from the pool of corporate CEOs, in particular. The number of black CEOS at the corporate level has shrunk in recent years. Chenault actually discussed this issue with BE in a recent interview.

“We have a long way to go,” said Chenault. “As I’ve said publicly, I think it’s embarrassing that the number of African American CEOs has actually been reduced from eight years ago. That’s a serious problem. From an African American perspective, we are underrepresented. We can talk all the theories we want. People talk about the complexity of this issue. I know that there are very qualified people. They just haven’t gotten the opportunity.”

While it’s important to celebrate the achievement made in diversifying American corporate boards, there is still the need to build up the pipeline of qualified black executives that can ascend to the C-suite.

The post Fortune 500 Company Corporate Board Diversity at All-Time High appeared first on Black Enterprise.

Career | Black Enterprise

EMPLOYMENT UPDATE:

Browns Gets On Board With the BFC’s NewGen Initiative

LONDON — British retailer Browns is amping up its efforts to support emerging talent by becoming the latest partner of the British Fashion Council’s NewGen scheme.
NewGen promotes London’s most promising up-and-comers by providing mentoring, financial support and showcasing opportunities during London Fashion Week.
As a partner, Browns said it will work toward strengthening the designers’ support network by further funding the scheme and providing mentorship programs that will focus on passing on the Browns team’s business and retail expertise.
Members of the Browns team will also sit on the NewGen judging panel to determine which designers will receive sponsorship in the coming seasons.
Current recipients include Halpern, Richard Quinn, Phoebe English, Matty Bovan, Liam Hodges, Kiko Kostadinov and Alighieri.
“Through partnerships like this, we will continue to demonstrate the Browns ethos, and we look forward to working closely with the BFC and the designers to build out meaningful initiatives with support and mentorship at the heart,” said Holli Rogers, the retailer’s chief executive officer.
Earlier this year, Browns also set up a new department dedicated to scouting and supporting young talent and is now looking to expand it into different segments, to reflect the huge variety of categories emerging talent can belong to.
As part of

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Chairman Of Temple University’s Board Slams Marc Lamont Hill For Comments About Israel

Activist and author Marc Lamont Hill received backlash after what some are calling controversial comments about Israel. CNN fired him and Temple University originally spoke out saying “he has a constitutionally protected right to express his opinion as a private citizen.” However, now the board chair of Temple  University is speaking out and he is slamming the professor of media studies and urban education

SEE ALSO: Texas Cop Shoots Unarmed Black Man For Entering His Own Truck

Chairman of Temple University’s board Patrick O’Connor, who is also a lawyer, said on CNN, “It should be made clear that no one at Temple is happy with his comments. Free speech is one thing. Hate speech is entirely different.” He continued, “I’m not happy. The board’s not happy. The administration’s not happy. People wanted to fire him right away. We’re going to look at what remedies we have.”

Marc Lamont Hill was tenure so it will be difficult to fire him.

That said, in an email to The Washington Times, Temple University said, “Marc Lamont Hill has been quoted extensively over the last 24 hours. Marc Lamont Hill does not represent Temple University and his views are his own. However, we acknowledge that he has a constitutionally protected right to express his opinion as a private citizen.”

At the United Nations on Wednesday, Hill said in a speech, “We have an opportunity to not just offer solidarity in words but to commit to political action, grassroots action, local action, and international action that will give us what justice requires and that is a free Palestine from the river to the sea.”

He continued, “Contrary to western mythology, Black resistance to American apartheid did not come purely through Gandhi and nonviolence, rather slave revolts and self-defense and tactics otherwise divergent from Dr. King or Mahatma Gandhi were equally important to preserving safety and attaining freedom. If we are to operate in true solidarity with the Palestinian people, we must allow the Palestinian people the same range of opportunity and political possibility.”

See a clip below:

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Social Media Says It Has Identified The Dallas Cop Who Shot And Killed A Black Man In His Own Home

Meet Jogger Joe, The Man Who Took Racist Cue From BBQ Becky In Tossing Homeless Man’s Clothes

This Colin Kaepernick Retweet Says Everything You Need To Know About The NFL Players’ Anthem Grievance

[ione_media_gallery src=”https://newsone.com” id=”3825613″ overlay=”true”]
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Nissan Board Voted Unanimously To Discharge Carlos Ghosn As Chairman

Nissan Motor Co. announced that its Board of Directors voted unanimously to discharge Carlos Ghosn as Chairman of the Board, and as Representative Director, and to discharge Greg Kelly as Representative Director. The company announced on Monday that an internal investigation has showed that over many years Ghosn has been under-reporting compensation amounts in the Tokyo Stock Exchange securities report. Carlos Ghosn was arrested following the disclosure by the company.
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HICL 6-month Profit Up; Board Recommends Corporate Domicile Change To UK

HICL Infrastructure Company Limited (HICL.L) reported profit before tax of 192.6 million pounds for the six months ended 30 September 2018, up from 87.6 million pounds in the year-ago period. Earnings per share rose to 10.8 pence from 5.1 pence a year ago.
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Dan Loeb drops bid to replace entire Campbell Soup board

Billionaire Dan Loeb is backing off his bid to replace the entire board at Campbell Soup. Instead, the activist investor’s hedge fund Third Point — which also recently retreated from its push to sell the company amid a lack of interest from potential acquirers — said Friday it will settle for replacing just five of…
Business | New York Post

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Not everyone is on board with that wild Oumuamua ‘alien’ theory

oumuamua alien

Earlier this week, the mysterious interstellar object Oumuamua was back in the headlines. It didn’t resurface because of any new observations or studies since its pass through our solar system back in late 2017, but rather because of a new paper that not-so-subtly hinted the object was actually of alien origin.

The paper, which was penned by researchers from the Harvard Smithsonian Center for Astrophysics, talks about the behavior of the object as it looped around the Sun and zoomed back out into space. It highlights the fact that the object appeared to speed up as it left, wrapping up with some vague suggestions that maybe it was an alien ship or even a piece of extraterrestrial space junk. Not everyone in the scientific community is willing to take the theory at face value.

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Not everyone is on board with that wild Oumuamua ‘alien’ theory originally appeared on BGR.com on Thu, 8 Nov 2018 at 23:07:09 EDT. Please see our terms for use of feeds.


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Citing Health Concerns, Dick Parsons Resigns as CBS Interim Chairman of the Board

Barely 30 days after his appointment as interim chairman of the board at CBS, Reuters is reporting that Dick Parsons has resigned from the position.

From Reuters:

Parsons, who said he had complications from a form of cancer, will be replaced by Strauss Zelnick, who founded the media-focused private equity firm Zelnick Media Capital, according to the statement.

Richard “Dick” Parsons, former Time Warner chairman and CEO, was named interim chairman weeks after Leslie Moonves stepped down as chairman and CEO of CBS amid a cascade of sexual assault allegations published in a series of articles in The New Yorker.

Parsons is a well-rounded leader noted for his sound judgment and vast experience in politics, finance, entertainment, and philanthropy. His illustrious career earned him the February 2002 cover of BLACK ENTERPRISE magazine. He also has a proven track record of driving results at large organizations during times of crisis and change.

“Among the numerous roles of this unflappable leader: Taking the helm of AOL Time Warner as the media giant was reeling from a troubled merger during the height of the dot-com boom; serving as chairman of Citigroup as the financial giant was recovering from the sector’s financial meltdown; lending his expertise to U.S. presidents over the years in tackling dire issues ranging from Social Security reform to job creation during the Great Recession; helping to resurrect the famed Apollo Theater at a time in which it was financially crippled; and assuming the role of  interim CEO  to stabilize the L.A. Clippers NBA franchise during the Donald Sterling scandal,” writes Black Enterprise Editor-in-Chief Derek T. Dingle.

According to Deadline, Parsons’ health has taken a turn for the worse in the last couple of weeks.

Watch a Black Enterprise interview with Dick Parsons from 2009 where he provides invaluable business and career tips which still apply:

The post Citing Health Concerns, Dick Parsons Resigns as CBS Interim Chairman of the Board appeared first on Black Enterprise.

Career | Black Enterprise

EMPLOYMENT UPDATE:

Ron Frasch Joins Aztech Mountain’s New Board of Directors

Aztech Mountain is gearing up for its next chapter and has tapped retail veteran Ron Frasch to serve on its newly created board.
The high-end, skiwear-skewed brand was founded in 2013 by Anthony Heifara Rutgers and David Roth who had a combined 20 years of experience in the apparel industry. Rutgers worked at LVMH’s watch and jewelry division and moved on to Marc Jacobs, while Roth has an MBA from New York University and is a trained forensic accountant whose grandfather started the eyeglass firm Avant-Garde, which was eventually sold to Luxottica, and whose father started Marchon, which was sold to VSP in 2008.
Since launching, Aztech Mountain has caught the attention of Barneys New York and other high-end retailers and is now carried in over 70 stores in 10 countries, according to Rutgers.
“A founder’s vision is always amazing, but we also know we have blinders on,” he said. “We haven’t had a lot of outside influence or anyone to ask questions and poke holes in what we’re doing. We think the brand can be much bigger, but we need to grow up a little bit and Ron will be able to tell us whether to accelerate or pull back. He’s the

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New California Law Forces Board Diversity, But Is It Right?

In a push to further corporate board diversity, California has enacted new legislation requiring publicly-traded firms in the state to have at least one woman on the board of directors.

Companies have until the end of 2019 to comply or face penalties. The more directors on the board, the more women the companies are required to add. For example, if a business has five directors, the law says it must add two women by 2021—six or more directors, then three women must be added to the board.

According to CNN, it’s the first law of such kind in the United States, but similar legislation exists in Europe.

There has been a recent focus on not just diversifying companies at the executive level, but also in the boardroom.

Keeping Tabs on Board Diversity for Over Half a Decade 

A recent 2017 Deloitte survey revealed “90% of directors indicate that they want greater diversity, approximately half of the surveyed corporations ‘lack a clear process for recruiting candidates with diverse skill sets or new perspectives.’ And despite the fact that more than 90% of the respondents cite that greater board diversity would improve innovation, disruption, and overall business performance, only 16% view lack of diversity among the top challenges in enlisting new board members or succession planning,” writes Black Enterprise SVP/editor-in-chief Derek T. Dingle.

Over the past six years, Black Enterprise has identified African Americans who serve on the boards of America’s largest publicly-traded corporations. As part of our examination, we have, for the second time, reviewed the entire universe of Standard & Poor’s 500 companies to gain a more thorough assessment of boardroom diversity. As such, we have witnessed an expansion in the membership of African American board members who comprise our exclusive Black Enterprise Registry of Corporate Directors.

The latest issue of Black Enterprise magazine profiles two black women corporate directors; Lisa Wardell, is the only black woman to serve as CEO in a Fortune 1000 company, Adtalem Global Education, formerly The DeVry Education Group. She sits on that company’s board and was just appointed to Lowe’s board.

Tracy Travis, chief financial officer of The Estée Lauder Cos., sits on the board of Accenture and previously for Campbell Soup and Jo-Ann Stores.

Black Enterprise Magazine July/August 2018 Issue

Lisa Wardell, left, an Tracey Travis on the July-August cover of Black Enterprise Magazine

“I had just assumed a corporate CFO role, and I had been working with a headhunting firm to staff my team, and so the headhunter at the time said, “Have you ever thought about being on a board?” Some months went by and I used that opportunity and took some courses from the National Association of Corporate Directors to certify myself in some of the areas of board [service], like compensation committee, strategy, etc.,” Travis said in the article.

While many corporate directors subscribe to the idea of more diverse boards, not everyone agrees mandating companies is the way to go.

Is It Diversity Only for White Women?

The California Chamber of Commerce opposes the law citing it violates “the independent voting rights of corporate boards and force companies to discriminate against qualified men,” The Tribune reports.

Trump-appointed SEC Commissioner Hester Peirce also criticized the law. “Opening such a wide door introduces uncertainty and political influence into corporate operations,” she said at a conference.

And does this law in any way help get more black and brown people onto corporate boards? One of the California Chamber of Commerce’s concerns about this legislation is it prioritizes gender over other aspects of diversity, reports CNBC. Some may feel this will only put more white women on boards.

While there remains a lack of representation of women on boards, the number of black men and women corporate directors are even smaller.

Women’s presence on boards have been increasing albeit progress has been slow and incremental. Women make up about 22% of Fortune 500 boards.

People of color on boards are scarcer. In 2017, African-Americans accounted for 10.9% of new corporate directors.

Part of the problem with getting more people of color on boards is companies often want to appoint those at the c-suite level—preferably CEOs–to boards.

In the last few years, the number of black CEOs of publicly-traded companies has dwindled with several high profile business leaders stepping down from their positions, including Xerox’s Ursula Burns and former AMEX CEO Ken Chenault.

Joseph Grundfest, co-director of the Rock Center on Corporate Governance at Stanford University and a member of Directors & Boards editorial advisory board says the legislation is ‘“well intentioned,” but maintains it “will not achieve its intended effect.” It will, he adds, only lead to a trivial gain of board seats for women, “but increase the risk of judicial rulings inimical to broader affirmative action initiatives.”

 

 

The post New California Law Forces Board Diversity, But Is It Right? appeared first on Black Enterprise.

Career | Black Enterprise

EMPLOYMENT UPDATE: