A new report is out and it chronicles one of corporate America's oldest epic fails: An inability to fill major corporate boards with more women and minorities — the very groups that are increasingly becoming consumer, commercial and social powerhouses.

As the Tribune reported this week, the nation's biggest corporations, including Chicago-area companies, have been slow to add these important representatives to their boards of directors, according to the Alliance for Board Diversity, a collaboration of four diversity organizations.

Actually, to say "slow" is an affront to snails.

On top of this situation, there's another emerging concern: A fear that President Donald Trump's naming of the least diverse Cabinet in modern times will embolden CEOs to table or neglect their corporate diversity outreach.

"It hasn't been a priority of this administration. I worry we could be going backwards … it's a real risk," says John Rogers Jr., the African-American CEO of Ariel Investments and a longtime proponent of greater corporate board diversity.

Still, lack of boardroom diversity is a problem that precedes Trump's rise to power.

Diversity advocate: Boards 'not moving fast enough' to add women, minorities Ally Marotti

The CEO didn't want to hire a woman, and he let Carla Carstens know it.

In fact, it was the first thing he told her when she came in to interview for a board position at his private company.

"He started the conversation out saying, 'I really wanted somebody just like me, but my board said I needed...

The CEO didn't want to hire a woman, and he let Carla Carstens know it.

In fact, it was the first thing he told her when she came in to interview for a board position at his private company.

"He started the conversation out saying, 'I really wanted somebody just like me, but my board said I needed...

(Ally Marotti)

Based on Securities and Exchange Commission data on 492 Fortune 500 companies, the Alliance for Board Diversity reports that in 2016 only 30.8 percent of board seats were held by women and minorities. Fortune 100 companies fared a little better, with 2016's 35.9 percent.

In both cases, the 2016 results were just slightly better than 2012's tally.

Considering the burgeoning financial prowess and expertise of the nation's women and minorities, I'd expect the representation to be much higher. But, at the current rate, it's going to take a decade or more to hit even a middling 40 percent mark.

What's up with this slow walk?

Unfortunately, it comes down to a failure of leadership and imagination at the top of the corporate pyramid.

When a company chairman or CEO is serious about recruiting more qualified women and people of color, and not just expressing a politically correct sentiment, chances are it's going to get done.

So right from the start, a vow of diversity has to be made and followed up with action.

Men named John, Robert, James, William outnumber women on corporate boards Corilyn Shropshire

Corporate boards aren't exactly famous for being bastions of diversity.

Still, there's...

Corporate boards aren't exactly famous for being bastions of diversity.

Still, there's...

(Corilyn Shropshire)

As important, there has to an openness or willingness to connect with people who may have traveled a different road to success than the current board or senior staff.

If you're a women or member of a minority group, chances are your shared life and business experiences are not going to be the same as a typical Fortune 500 CEO.

But that's what diversity is all about — bringing in qualified people who will help expand a company leadership's viewpoint and understanding of how the business fits into a changing world. As a result, it's essential that boards empower recruiters to find candidates that don't always have an MBA or a traditional corporate pedigree.

Instead, they should consider those from parallel universes, including nonprofits, academia, midsize and small businesses, family-owned companies, government, law firms and other service-sector enterprises.

Adding this expertise sends customers, shareholders and stakeholders an important message — U.S. companies are ready to conduct business in an increasingly global and multicultural 21st century.

Unfortunately, Chicago-area companies have their diversity deficiencies, according to the Alliance for Board Diversity.

Survey: Few male board members believe diversity improves company performance Jena McGregor

Companies with the highest percentage of female directors have been shown to outperform on equity, return on sales and return on invested capital. They pay less to gobble up other firms. They have lower stock price volatility. And those with more women at the top have even been shown to have fewer...

Companies with the highest percentage of female directors have been shown to outperform on equity, return on sales and return on invested capital. They pay less to gobble up other firms. They have lower stock price volatility. And those with more women at the top have even been shown to have fewer...

(Jena McGregor)

The report found that only locally based agricultural giant Archer Daniels Midland's 12-person board matched its criteria for having the broadest diversity.

Ariel's Rogers, who is on the boards of McDonald's and Exelon, stresses those local companies have long included minority and women board members.

Although far from scientific, I did a spot-check of the area's largest corporate boards and found there's often some women and minority representation, although the vast majority of board members are white males.

Undoubtedly, being a white male also has cache within the Trump administration.

For example, out of 15 Trump-proposed Cabinet secretaries, 12 are white males. That's compared with President Barack Obama's initial Cabinet of six white men out of 15 positions.

There's no indication that President Trump is going to be changing his governing style anytime soon.

But national and local business leaders would be wise not to play follow the leader on this issue.

roreed@chicagotribune.com

Twitter @reedtribbiz

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