Urban League: Blacks scarce on Philly region's corporate boards
It's not exactly clear what the yardstick should be in measuring the number of African Americans on company boards - but whatever it is, there aren't enough, Patricia A. Coulter, president of the Urban League of Philadelphia, said Thursday.
It's not exactly clear what the yardstick should be in measuring the number of African Americans on company boards - but whatever it is, there aren't enough, Patricia A. Coulter, president of the Urban League of Philadelphia, said Thursday.
Thirty African Americans sit on the boards of 78 of the region's largest companies by revenue, according to a report the Urban League will release Friday at its annual awards luncheon.
"It is disappointing, sobering," Coulter said.
Together, the 78 companies that responded to the League's survey have 678 board members. African Americans represent 4 percent of the total.
"The motivation for doing this was to get a baseline," she said. "Hopefully we can spur some conversation and get some results."
Coulter's yardstick is local population, not the size of a company's workforce or customer base. Nationally, African Americans make up between 11 percent and 12 percent of the population, she said. Regionally, it is 20 percent, and in the city, the percentage is 44.
"When you look at 4 percent when it is contrasted against the 44 percent or 20 percent, that number is pretty dire," she said.
Of the companies with African Americans on their boards, only Lincoln National Corp. and West Pharmaceutical Services Inc. had more than one.
The Urban League, Coulter said, primarily addresses parity in jobs, education, and economic opportunity for African Americans. The new report, titled "Opportunity at the Top: Leadership and Diversity of Corporate Boards," does not track Hispanic, Asian, or female board participation.
Mayor Nutter will speak at Friday's Whitney M. Young Jr. Community Empowerment Awards Luncheon, set for the Hyatt Regency Penn's Landing.
The luncheon also will honor several individuals and organizations for their roles in empowering the community.
Among them is Melvinna Cannon, senior pricing analyst at Sunoco Inc. She champions a group called Blacks in Energy, which provides scholarships and mentoring to encourage young people to enter the field of energy.
"It's all about reaching back and pulling through," Coulter said. "That to me is what empowerment represents."