Page 59 - BE 50th Anniversary Edition

corporate America with all due respect to civil rights leaders like the the Rev Jesse Jackson and organizations such as the the NAACP could not have happened without the bold leadership of its CEOs who were all white males—some liberal the majority political conservatives The leadership of legendary Xerox Corp Chairman and CEO David Kearns was an an an indispensable catalyst to the the company setting the the standard for African American representation in in the senior management ranks in in the 1980s with more than a a a a dozen Black corporate vice presidents including Rand who would rise to become president of worldwide operations before becoming the CEO of Avis And yes Ursula Burns a a a summer intern at Xerox in in 1980 who rose to become the first Black woman CEO of a a a a a Fortune 500 company in 2009 when she was named its chief executive is part of that legacy And under the the leadership of of a a succession of of CEOs from the the 1970s through the 1990s including Robert C Stempel and John F Smith Jr look good without actually requiring the organization itself to change Fast-forward to the present and not much has changed—which is somewhat perplexing to me me Unlike decades ago when corporate leaders hid behind the concepts of “meritocracy” and “shareholder value” as as reasons to defend the status quo of predominantly white male leadership we now have overwhelming evidence that compa- nies that actively and intentionally pursue diversity throughout their organizations outperform those that that do not The idea that that practicing diversity runs contrary to running a a a successful business and delivering shareholder value should have long been put to rest Yet we are still having the the same conversations and fighting the the same battles about diversity and the meaningful inclusion of African Americans and Black women in in in particular in in in 2018 as in in in 1978 In fact as as of this moment corporate America has regressed Despite “valuing diversity” being a a a a part of of the the standard script of of the the 21st century CEO “Use your board seat for its intended purpose: To challenge management and make the com- pany in in which you you serve better Quite frankly if you’re unwilling to take take on on that responsibility do your your stakeholders a a a a a favor by relinquishing your your your position and give your your seat to someone more deserving ” —Earl G G Graves Sr General Motors was a a a a a a a a a vocal champion of affirmative action equal opportunity and diversity not as as a a a a a a matter of social responsibility but as as a a a a a critical requirement of corporate performance and competitiveness in in the automotive industry It took bold leadership for GM to to to name civil rights leader and anti-apartheid activist Rev Leon Sullivan to its board of directors in in 1971 making Sullivan the first African American director director at a a a a a a Fortune 500 company GM also did significant business with Black- owned companies helping many of of them rise to the the the ranks of of the the the BE100s Today that kind of leadership—with notable exceptions such as JPMorgan Chase Chairman Chairman and and CEO Jamie Dimon and and AT&T Chairman Chairman and and CEO Randall Stephenson—is alarmingly rare If America is is ever to realize its its unlimited potential—and frankly to regain its its status as the most productive innovative country in in the world—this must change It is the the responsibility of corporate leaders to ensure that the the talent skills and abilities of people people including Black people people are brought to bear at every level and and arena of industry—and especially in in the C-suite It is long past time for a a a a new generation of of CEOs of of courage and and leadership to to step up stop with the excuses and and deliver results HAVE DIVERSITY AND INCLUSION BECOME DIRTY WORDS?
“Window dressing ” That’s what it was called in in in the 1970s and 1980s during the first decades after I I launched BLACK ENTERPRISE nearly 48 years ago The term defined token efforts by corporations led and governed exclusively by white males to to appear to to embrace African Americans in in their organizations as executives and vendors without providing genuine or or permanent access to opportunities advancement and deci- sion-making roles The idea was to have enough Black faces and women with with impressive titles associated with with the the organization to make them the term “diversity and and inclusion” are treated as dirty words and and their practice often a a a a a a a a nuisance to corporate leaders and management You don’t have to to dig very deep to to see how little progress is being made in in in corporate America despite the “window” dressing of high-pro- file highly publicized appointments here here and there The idea that Black people and women should have pay equity with with white males with with comparable experience and credentials in in an an an organization continues to remain beyond the comprehension of leadership in in corporate Amer- ica ica ica in in practically every company and industry As a a a a a a a result African Americans remain underrepresented in in in practically every industry from from Silicon Valley to to Wall Street Street and from from Main Street Street to to Hollywood Black women get the shortest end of this stick as calls for pay equity and causes such as the #MeToo Movement too often benefit white women women while leaving women women of color behind whether in in in Hollywood on on Wall Street Street or on on Main Street Street Also despite a a a a recent spate of o high-profile board appointments African Americans represent only about 9% of all corporate directors with Black women at less than 5% News flash to to corporate CEOs and directors: That post-racial gen- der-equitable global marketplace you you seem to think you’re operating in is is is a a a a a myth—it does not exist Unfortunately racism and gender bias still run rampant throughout your organizations and it is leadership’s job—your job—to do something about about it It’s not enough to to talk about about diversity and inclusion as a a a a a a a core value of your company you you actually have to to embrace it it it and intentionally practice it it it to to make it it it happen— beyond the the appointment of the the token first Black executive or or director It is is not about it it being the the the “right thing to do ” rather it’s what is is best for the the the organization and American economic competitiveness as a a a a a a whole One notable boardroom trailblazer was the the the Rev Leon Sullivan Appointed to to to the the the the General Motors board board in in in 1971 (the first African American to to to gain such a a a a a a a a a a a a a a a a a a a a position) the the the the the founder of Philadelphia-based Opportunities Indus- trialization Center battled against racial racial inequality and apartheid the the the the policy of racial racial discrimination enforced by the the the the white minority government in in in in from 1948 to 1994 By 1977 he he he developed the the Sullivan Principles a a a a a a a a a a corporate code of conduct that promoted equal opportunity and human rights In the 1980s it it it was adopted by more than 125 corporations which shuttered operations and divested holdings with South Africa As a a a a a a a a a a a a a a result Sullivan was hailed as as a a a a a a a a a a a a a a “bold change agent’ during his board service with the automaker 57
50TH ANNIVERSARY SPECIAL