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Asian Pacific Americans Remain Absent from Corporate Boardrooms, Says LEAP's Report

Written by Danielle
November 12th, 2009
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Leadership Education for Asian Pacifics, Inc. (LEAP) unveils the findings of its 2009 Corporate Governance Report measuring Asian Pacific American (APA) inclusion on the boards of Fortune 100 companies.

“Despite social, business and economic rise, Asian Pacific Americans remain absent from corporate boardrooms,” said J.D. Hokoyama, LEAP’s President and CEO. “This is an issue we hope to address fully in 2010 as part of our long-term strategy on research of APA representation in top leadership roles in the public, private, foundation, education and nonprofit sectors.”

Key Findings

In 2009, 23 Asian Pacific Americans held just 27 board seats at 24 companies in the Fortune 100. APAs constitute over 5% of the US population and more than $500 billion in purchasing power.

* There are 23 APAs that hold 27 board seats at 24 Fortune 100 companies.
* The 27 board seats represent 2.2% of the total 1,220 board seats in the Fortune 100.
* The breakdown of these APA board of directors by ethnic group is as follows: Asian Indian (13), Chinese (6), Japanese (2), Filipino (1) and Vietnamese (1).
* Five (21.7%) out of the 23 APA directors are women.
* Four board members sit on more than one Fortune 100 board: John S. Chen, Rajat K. Gupta, Andrea Jung and Marissa T. Peterson.
* Seven APA directors served as (vice) chair, (co) president and/or (co) chief executive officer of a Fortune 500 company in 2009.
* Three Fortune 100 companies have more than one APA director on their boards: Goldman Sachs, PepsiCo and Best Buy.
* The 24 Fortune 100 companies with APA representation on their boards are: General Electric, Hewlett-Packard, Citigroup, IBM, Procter & Gamble, Morgan Stanley, Dell, MetLife, Goldman Sachs, Wells Fargo, Safeway, Supervalu, PepsiCo, Kraft Foods, Best Buy, Cisco Systems, Walt Disney, News Corp., Apple, Motorola, Prudential, Humana, Deere and Alcoa (listed in order of revenue ranking in Fortune magazine).

Source: Businesswire