Rising Influence of Indian Men in Corporate Boardrooms
In a promising trend, more men of Indian descent are stepping into leadership roles at major U.S. companies. This year, a record 16 Indian men joined the boards of S&P 500 companies, with notable appointments at organizations like Walmart and Southwest Airlines, as highlighted by data from ISS-Corporate and Equilar. It’s important to note that only White men and women saw a greater increase in board positions.
Since 2018, the presence of Indian men in boardrooms has surged, tripling their share among directors at Fortune 500 and S&P 500 companies. This increase has outpaced that of women, Black, and Hispanic directors, according to information from James Drury Partners.
Many companies are now focusing on directors with backgrounds as chief executives or operational leaders. Indian business leaders often fit this mold, having gained valuable experience over their long careers in the U.S. Among the 184 Indian men on Fortune 500 and S&P 500 boards, 77% have profit-and-loss experience, and around two-thirds have served as CEOs.
This year, the trend continues with two-thirds of the new directors also being current or former CEOs from well-respected firms like Stryker and Linde.
Interestingly, while Indian men are making strides, Indian women have not seen the same level of progress, partly due to a lower likelihood of holding CEO positions. However, there are some notable exceptions, including former CEOs like Indra K. Nooyi of PepsiCo and Sonia Syngal of Gap, who were appointed to boards this year.
Anand Eswaran, the CEO of Veeam Software, recently joined the board of the tech company F5, reflecting the journey of Indian executives who have benefited from the groundwork laid by those who arrived in the U.S. after immigration policies changed in the 1960s. Eswaran emphasizes that aspiring leaders had to face stiff competition back home for top educational opportunities. Many began their careers in entry-level positions and climbed up through sheer determination.
Raj Gupta was one of the early leaders, becoming CEO of Rohm and Haas, a Fortune 500 firm, in 1999. Now 80, and no longer serving on boards, Gupta teaches at prestigious institutions, sharing his insights on leadership transitions and the importance of communication skills.
The experiences of leaders like Rakesh Sachdev, who started out as a senior engineer and navigated his way up to various CEO positions, echo the journeys of many Indian executives. Sachdev is currently the chair of Axalta Coating Systems and notes that the momentum is growing for Indian professionals to take on board positions due to their successful track records.
Despite these successes, it’s essential to recognize that not all Asian individuals share the same opportunities. Norman Chen, CEO of the Asian American Foundation, points out that other groups within the Asian community face challenges in gaining board representation, highlighting an ongoing equity issue.
As immigration restrictions tighten under recent policies, the pathways for future Indian executives may increasingly narrow. Many top Indian leaders originally came to the U.S. on student visas and transitioned to H-1B work visas. Changes to these visa programs could hinder future talent from entering the U.S.
Indian leaders tend to excel in navigating complex business landscapes, a skill shaped by their diverse backgrounds in India, where multiple languages and cultures coexist. This ability to understand different perspectives is a key quality that can enhance leadership effectiveness in the U.S. business environment.
In summary, while Indian men are achieving significant success in U.S. corporate boardrooms, the overall landscape for diversity and inclusion remains complex and presents both opportunities and challenges.
