---Partnership to focus on African-American leadership in the new millennium---
A highlight of the Executive Leadership Council's (ELC) 13th Annual Recognition Awards Dinner held in Washington, D.C. was the announcement of the Corporate Board of Directors Development Program by the ELC and Philip Morris Companies. This new initiative, which is being funded by Philip Morris Management Corporation and will be implemented beginning in 2002, is designed to improve the representation of African-American leadership on boards throughout corporate America. Estimates indicate that few African-American business leaders have risen to the ranks of CEO of Fortune 500 corporations within recent years and research shows that African-American leadership is greatly underrepresented on corporate boards. According to the Conference Board's study on board diversity in U.S. corporations, the total number of African Americans who sit on public Fortune 1000 corporate boards has greatly lagged, increasing from 223 in 1992 to a mere 342 by 1996. The Corporate Board of Directors Development Program will involve the National Association of Corporate Directors (NACD) in the development of educational seminars that are designed to groom African-American business leaders to serve on a corporate board and to create opportunities for greater exposure and visibility. The initiative will encourage ELC members serving on corporate boards to act as mentors and coaches to those business leaders aspiring to serve on corporate boards. Founded in 1986, the Executive Leadership Council (ELC) is an organization of more than 250 senior-level African-American executives in corporate America, as well as entrepreneurs. For more information, call Laurie Guzzinati (917) 663-2144.

---Retaining minority employees---
Corporate executives and minority professionals agree that, in order to retain minority employees, company management needs to be strongly committed to diversity and link corporate diversity objectives to the overall business strategy, according to a new Korn/Ferry International study, "Best Practices for Diversity: Corporate & Candidate Perspectives." The study was designed to capture the views of both managers and minority employees regarding best practices in today's corporate efforts to achieve workforce diversity. Responses were gathered from 35 executives of major corporations and 98 African American, Asian American, and Latino/Hispanic professionals nationwide. The commitment of senior management was cited as an important corporate attribute in retaining minority employees by 85 percent of executives surveyed and 82 percent of professionals; the next most frequently mentioned attribute was "making diversity an integral part of the business strategy," which was cited by 66 percent of executives and 62 percent of professionals. Some of the survey's key findings include: (1) Corporate executives say that "relationships with minority oriented organizations" are the most effective program for attracting minority employees (cited by 91 percent), but just 61 percent of professionals view such programs as effective. Professionals believe that internships (cited by 65 percent) are most effective in attracting minority employees. (2) Skills training is considered by corporate managers to be the most effective program to retain minority employees (cited by 98 percent), but just 70 percent of professionals view such programs as effective. Eighty percent of managers believe that mentoring programs are effective programs for retention -- but just 57 percent of professionals agree. (3) Managers and professionals also strongly disagree on how effective larger corporations are, in general, in achieving diversity goals. While 57 percent of managers believe large organizations are generally effective in achieving diversity, just 38 percent of professionals agree. Similarly, 74 percent of managers believe their own organization has been effective in achieving diversity, while just 48 percent of professionals agree.

---Dr. Mae Jemison elected to board---
The Valspar Corporation, a leading coatings manufacturer, announced that Dr. Mae Jemison has been elected to the Valspar Board of Directors. Dr. Jemison made history when she became the first African American woman to travel into space aboard the space shuttle Endeavor in September 1992 as the science mission specialist. She earned a bachelor's degree in chemical engineering from Stanford University and an M.D. from Cornell University.

---Moody's Corporation donates $1.4 million to leading Harlem institutions---
Moody's Corporation, as part of its commitment to New York, announced that it is donating a combined $1.4 million to four leading cultural and community institutions in Harlem. Moody's is contributing $350,000 each to: (1) Dance Theatre of Harlem; (2) Harlem YMCA; (3) The Schomburg Center for Research in Black Culture; and (4) The Studio Museum in Harlem. Clifford Alexander, chairman of Moody's Corporation, said, "In this time of extraordinary need, all of us at Moody's are glad to have the opportunity to support these four outstanding institutions."

---New York Life to fund Schomburg Center children's program---
The Schomburg Center for Research in Black Culture and New York Life Insurance Company jointly announced a grant of $1.16 million from the New York Life Foundation that will fund a new educational program offered to school children between the ages of 11 and 17. The program will be conducted on Saturdays throughout the school year. New York Life's four-year funding will establish a program called The New York Life/Schomburg Center Junior Scholars Program. The program will initially recruit a pilot class of 100 youths of African descent between the ages of 11 and 17, with a special emphasis on males in this age group. The Schomburg Center for Research in Black Culture, located in Harlem, in New York City, is a national research library devoted to collecting, preserving and providing access to resources documenting the experiences of peoples of African descent throughout the world.

---Lockheed Martin/Tuskegee University launch micro-satellite program---
Lockheed Martin announced that it has contributed $25,000 to help Tuskegee University in Alabama establish a new Micro Satellite Program on campus. The first satellite project, designated SKEGEENIK, will provide the University's students and professors with the knowledge and training necessary to design, build and launch a satellite with a functional payload.

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