WASHINGTON, D.C. – Today, the Congressional Hispanic Caucus hosted its first forum on the status of Hispanics in corporate America. Through the Corporate America Task Force, an organization created by CHC Chairman Ciro Rodriguez (D- TX) and chaired by Rep. Joe Baca (D- CA), House members were able to ask a panel of experts, questions about how conditions can be improved for Hispanics in the business world.  

The three primary goals of the task force are to increase diversity in corporate boardrooms and senior management, increase procurement of goods and services from Hispanic owned businesses, and increase philanthropic support of Hispanic and Hispanic communities. 

Baca was joined in today’s forum by Reps. Grace Napolitano (D- CA), Tom Udall (D- NM), Xavier Becerra (D-CA), and Linda Sanchez (D-CA). Each of the representatives questioned the panel on how to improve diversity nationwide in businesses. The panel consisted of presentations by Dr. Issac Cohen, Hispanic Business, Inc., Ana Maria Fernandez-Haar, New America Alliance, Fernando Barrueta, Hispanic College Fund, George Herrera, US Hispanic Chamber of Commerce, and Dr. Antonio Flores, Hispanic Association on Corporate Responsibility.   

“Hispanics represent 14% of the population in the United States, if you include Puerto Rico,” Baca said. “Right now we possess 600 billion dollars in purchasing power yet Hispanics are not represented in corporate America.” 

“This forum is the first step in holding corporate America accountable,” Baca said.  “We plan on exploring this issue very deeply and we will not quit until we start seeing results.” 

“The Corporate America Task Force has met a number of times to discuss strategy. We have already sent a message to corporate America that we are watching them. Now, through a series of forums and hearings, they will begin to see that that is true. Corporate America must be held accountable. The task force will determine where companies stand in their efforts to hire and promote Hispanics into positions of power in the corporate world.” 

“We are planning our first field hearing for January or early February in Los Angeles,” Baca said. “We will be focusing on the entertainment industry while we are there.  The entertainment industry doesn’t get a free pass. They are part of the corporate world, too.  We need to see more Hispanic directors and Hispanic actors in Hollywood. A Hispanic presence must be felt in that industry as well.” 

Hispanics are estimated to have a purchasing power of over $600 billion, but currently hold fewer than 2 percent of Fortune 1,000 board seats, and nearly 85% of the largest American companies do not have Hispanic representation at the board level.  Hispanics make up an even smaller percentage of executive officers, only 1.1 percent.