SEATTLE — Microsoft, Zillow and Amazon are among the major Washington-based companies backing an effort to diversify corporate boards.
The Black Boardroom Initiative is calling on Fortune 500 companies to walk the talk when it comes to racial justice.
"We are trying to get rid of this notion that there is no qualified person available or out there to be found. We want to get that excuse completely off the table," said James F. Williams, managing partner for Perkins Coie's Seattle office.
Perkins Coie's is the law firm spearheading the effort with the support of Deloitte, RealNetworks, Amazon, Microsoft, Starbucks and Zillow.
The Black Boardroom Initiative works as a pipeline, identifying qualified candidates for a six-month training and networking program – creating a steady flow of qualified Black executives to step into board positions.
Black people make up close to 13% of the U.S. population, but 37% of S&P 500 corporations did not have any Black board members in 2019, according to Perkins Coie.
RealNetworks General Counsel Michael Parham is one of the program's leaders. He says this initiative will help to address networking barriers; connecting qualified Black candidates with other corporate leaders.
"It will broaden the perspectives that are shared with regard to the governance of the corporation, but also the impact in the community," said Parham.
The goal is to increase the percentage of Black executives on corporate boards to one in eight by 2028.
When asked how this initiative differs from other calls to address lack of diversity among corporate boards, Williams said, "I would say that this is different because, talk is cheap."
This is an initiative corporate leaders say will put action behind the movement.
"We think it's realistic. Is it going to be easy? No, it's going to be really hard, but we're going to do our part and hopefully will be a catalyst for others around the country to do something similar,” said Williams.
While the initiative will initially focus on Washington state, Perkins Coie and its corporate sponsors plan to expand it to other major cities in the coming years.