Don't CEOs Understand That Racial Inequality Is Bad for Business?
This is a new era for corporations in the United States: CEOs are speaking out on race—a topic with a deep history that continues to tear the nation apart.
Facebook (FB, +0.23%) CEO Mark Zuckerberg and Microsoft (MSFT, -0.53%) CEO Satya Nadella, among others, spoke against the Trump administration’s announcement to rescind Deferred Action for Childhood Arrivals (DACA), 84% of whose recipients identify as Latino. Merck (MRK, +0.88%) CEO Ken Frazier, Intel (INTC, -2.59%) CEO Brian Krzanich, and UnderArmour (UAA, -0.33%) CEO Kevin Plank, among others, resigned from the American Manufacturing Council over Trump’s initial failure to condemn white supremacists in Charlottesville, Va. More than 150 corporate leaders signed the CEO Action for Diversity & Inclusion, committing to advance diversity and inclusion at their organizations. Such efforts are noteworthy because it takes moral courage for CEOs to leverage their influence and address issues of racial inequity. Importantly, speaking up has the potential to influence policies that shape the racial culture of the nation.
But reversing the impacts of racial discrimination and inequality requires more than moral courage. People of color face obstacles in all aspects of life, be it education, income, wealth, health, employment, or access to justice.
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