Boston, MA - The Hispanic Association on Corporate Responsibility has joined with Harvard Business School to create the first comprehensive executive education program for Hispanics who either serve on boards of Fortune 1000 companies at present or who are qualified candidates for future board openings.
The Sarbanes-Oxley Act of 2002, along with growing interest among shareholders in establishing greater board independence, have encouraged many Fortune 1000 companies to review board composition and to seek Hispanics and other minority groups to fill future vacancies. Qualified minorities have long been overlooked as potential board candidates although they can bring the professional and leadership skills necessary to be successful board members.
"This is a unique initiative involving one of the leading business schools in the nation and the leading Hispanic advocacy group for corporate responsibility," said Dr. Antonio Flores, chairman, HACR board of directors. "This outstanding executive education course will further prepare Hispanic candidates to be more effective and knowledgeable about their duties and represent shareholders with the highest ethical standards."
The program, titled Latino Leadership in the Board Room: Best Practices in Corporate Governance, is a cutting-edge initiative that will take place August 3-6, 2003, at Harvard Business School. The four-day custom executive program was developed specifically for HACR by HBS, a service the School provides for select organizations worldwide. It will focus on highlighting the responsibilities and accountability of board members, their role in financial reporting strategies, evaluating the CEO, building a new board, conducting a board search process, replacing the CEO, the role of the board in investor communications and voluntary disclosure, and understanding the unwritten rules of the board room. The response and interest that this course has generated has been overwhelming and encouraging; and both institutions will explore the possibility to offer this program again next year.
About the Hispanic Association on Corporate Responsibility
The mission is to ensure the inclusion of Hispanics in corporate America at a level commensurate with our economic contributions. HACR focuses on four areas of corporate economic activity and refers to them as indicators of corporate responsibility and "market reciprocity." They are: employment, procurement, philanthropy, and governance. In addition to Hispanics Today, HACR also publishes its annual Corporate Governance and Best Corporate Practices studies.
For more information, please contact:
Omar Velarde-Wong
Director of Communications
Phone: 202.835.9672
Fax: 202.457.0455
ovelarde@hacr.org
