Event sparks conversation for more Black female executives
The abundance of recent news reports of alleged sexual misconduct against women proves the conversations that occurred during the November 2017 National Conversation on Board Diversity event sponsored by 2020 Women on Boards was timely and essential.
With the belief that diversity of thought results in better decisions, organizers advocate that women on boards bring different perspectives to the difficult issues facing today’s corporations in all professions.
One woman making a difference and bringing diversity to the boardroom is former Pittsburgher and Robert Morris University graduate Brenda J. Lauderback, chairman of Denny’s Corporation and former president of Wholesale and Retail for Nine West Group Inc. “This conversation on board diversity could not be taking place at a better time,” said Lauderback. She was the keynote speaker during Pittsburgh’s 2020 WOB event.
Speaking on three key areas, Lauderback said board diversity is more than getting additional women, Blacks or Hispanics on corporate boards. “It’s about cultural diversity. Whether people want it or not this country will become majority minority, which is already happening in cities around the U.S. and the world.”
Her second point addressed women and diverse talent having an active voice in management, and on corporate boards. “It has to go beyond checking the box. It goes without saying that women and minorities must have the skills required to qualify for a board seat, but we also must be very intentional about wanting to make a difference once we get on theses boards and in the board room.” In her third point she said, “Corporate boards of directors are not diverse because most companies plain and simply just started looking in the right places or their unconscious bias has come to light.
While clarifying her points she emphasized to women wanting to get on a board, or currently on a board, to be more than tolerant and not to look at themselves as the woman on the board. “Demonstrate leadership in whatever job you have and whatever company you are working with. Corporate boards are looking for individuals who have demonstrated their ability to make tough decisions, lead transformational change and are experts in their area.” Putting it bluntly she said, “You have to be the best at whatever you do, and you also need to be relevant.” To be successful, she said, is to be curious, committed and courageous. “We must use our voice to advocate for women and for broader issues including ethnic diversity. I have never been fearful of being the only Black or the only woman on the board or in the room. I speak up even when it’s unpopular without being disrespectful. But I must speak my truth.”
Lauderback was previously president of Wholesale and Manufacturing and Design for U.S. Shoe Corporation and has more than18 years in senior merchandising roles at the Department Store Division of Target Corporation. Past public board positions include Big Lots, Jostens Corporation, LP Corporation, and Irwin Financial Corporation. Activities during the event also included the 2017 Board Diversity Ambassador Award presentation to Henry Maier, President and CEO of FedEx, and a panel discussion. Covering the event topic, “Building the Pipeline: How do women better prepare themselves and find director opportunities?” the panel was moderated by Diane Holder, Executive Vice President, UPMC. Panelists were James D. Chiafullo, Kay Cole James, W. Howard Morris, and Sandra Volpe.
Another highlight of the four-hour event were the roundtable discussions, providing participants the opportunity to engage with executives currently serving on a corporate board. The facilitators and corporate executives shared their best practices and lessons learned. The theme of discussion was; “Your Roadmap to Board Ready–Excellence. Experience. Exposure.”
Concerned and dismayed by the lack of progress women are making in the boardroom, Stephanie Sonnabend, former CEO and President of Sonesta International Hotels Corporation, and Malli Gero, a former communications and public relations executive, co-founded 2020 Women on Boards in 2010, a national campaign dedicated to increasing the percentage of women on corporate boards to 20 percent by the year 2020. Making her first appearance during the Pittsburgh affair, Sonnabend said, “It is necessary to educate and advocate for change and we are encouraging women to use their voices and to prepare themselves for board service.”
Sonnabend reported that their research of Fortune 1000 companies indicates that in 2017 they exceeded their goal of 20 percent of women on boards three years ahead of schedule. “We are at 20.8 percent. That’s like scoring the first touchdown, but the work is not over.”
Found on their website, www.2020wob.com, the report Sonnabend is referring to is the Gender Diversity Index. “Every year, our team of researchers measures the gender makeup of the active companies on the 2010 Fortune 1000 list. We report our findings in the 2020 GDI and compare progress on this same group of companies from one year to the next looking at company size, state and sector.”
The Pittsburgh event was hosted and organized by Coghill Investment Strategies, a local investment management firm with a diverse committee of over 20 people. The Pittsburgh 2020 Women on Board chair is Christy Uffelman of Align Leadership and event chair is Kristen Hemmings of Coghill Investment Strategies.
“Pittsburgh has embraced this event with open arms,” said Uffelman. “Our first year we had 130 attendees and this and last year we were at capacity of 300. Compared to last year it’s like we have a new room to a certain extent. In our efforts of inclusion, we had a more diverse representation in our table presenters, the panel was diverse as well as our audience.”
Uffelman also mentioned their support of the African American Director’s Forum, an event of David Motely, co-founder and general partner of BlueTree Venture Fund that was held in conjunction with the National Conversation on Board Diversity. The forum connected more than 40 African American directors and C-suite executives with leadership at more than 15 of Pittsburgh’s largest public companies.
Like us at https://www.facebook.com/pages/New-Pittsburgh-Courier/143866755628836?ref=hl
Follow @NewPghCourier on Twitter https://twitter.com/NewPghCourier
