Values and Integrity in the Future of Corporate Boards
Integration and bicultural, these are two main factors Cari Dominguez defines for the success of a leader. Cari arrived to the. U.S. from Cuba at an early age. It was during the Castro Revolution that Cari, together with her mother and sisters, fled to the United States. She was a 12 year old girl starting in a new education system with no knowledge of English. She defines this early stage in her life as one of the first pivotal moments that changed her life forever. From connecting with others in school through sign language and spending her Saturdays reading Encyclopedias, Cari was motivated to learn the culture.
Cari has always been deeply influenced by her parents. “Work hard, study and give back”, she says. Community and church have always helped build her values. “I think one of the benefits of being bicultural is that you get the best of both worlds.” Cari lives and leads through what she calls the three C’s: Competence, Character, and Confidence.
From her first job dusting pianos at a local college to her start of government work at the Department of Labor (DOL) in 1977 and then off to the corporate world, at Bank of America, Cari has always had one same mission, to make sure everyone has equal opportunities to grow and be represented. Upon returning to DOL, this time as a political appointee in 1989, not only did Cari lead the launch of the Glass Ceiling Initiative but she also became the first Hispanic and the first working mother appointed to her DOL position. As chair of the U.S. Equal Employment Opportunity Commission she became the first ap- pointee to have workforce management background.
Without a doubt, Cari brings a background of multi sector experiences to her role as board member. “It’s valuable to broaden those career experiences. Build a base of support”, Cari says. Her first step into considering her role as an Independent Director was to write a personal mission statement. “ I realized I wanted to use the collections from all these experiences on a platform where I could influence change. Where I could guide and support the direction of a company and that company be a leader in their industry.” It was thirteen years ago when Cari joined her first board. “Providing guidance and introducing a perspective from a Latina at that time was very rare”, she says. According to Cari, boards can really drive outcomes with the right strategy and the right support. The boards that she currently serves in, such as Calvert Funds, are companies that align well with her values and her mission in life.
Cari never stops growing as a leader, and most probably will never do. When asked about why joining a new board or accepting a new role she states how “[her] purpose was not about wanting the job but about the opportunities [she] had to develop and enhance [her] skills.”
As effects of COVID-19 are starting to hit, Cari sees changes on the discussion of talent and opening the pipeline. She sees a board environment with more discussions about pay disparities and the advancement of women, particularly in the U.S.
“60% of boards have a preference for CEO’s but I think I’ve seen change. I see the next board members being younger, more diverse and bring functional expertise. I see people from marketing, global and international experience and with a full technology skillset.” Through Cari, not only can we imagine what future boards might look like but we also find what a true leader is made out of. She carries the fortitude that has been needed to tackle challenges in the past and most importantly what companies need today to lead what will come next.