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Here's what 9 top CEOs have to say about systemic racism and inequality in America

Marguerite Ward   

Here's what 9 top CEOs have to say about systemic racism and inequality in America

  • JPMorgan's Jamie Dimon, Walmart's Dough McMillon, and other members of the Business Roundtable (an association of some 200 CEOs from many of America's largest companies), released a statement addressing racial inequity in America.
  • In the statement, some 16 CEOs spoke out about inequality in the US, and Walmart's McMillon called racial inequality "deeply rooted."
  • JPMorgan's Dimon pointed to "long standing systemic challenges" in the US.
  • Business Insider highlighted nine of the most poignant quotes, including General Motors CEO Marry Barra's call for expanded childcare and Marriott CEO Arne Sorenso's statement on racial health disparities.

America is at a crucial turning point. The pandemic is laying bare pitfalls in our economy and health system. The killing of George Floyd and continued protests are sparking conversations around racial violence and inequity. More Americans are demanding change from leaders. And it seems business leaders are listening.

In a Thursday statement, JPMorgan CEO Jamie Dimon, Walmart CEO Dough McMillon, and other members of the Business Roundtable (an association of some 200 CEOs from many of America's largest companies), released a plan to address systemic inequality in the US.

As part of it, 16 top CEOs shared statements on the state of the country, and what needs to change. It should be noted that there is little diversity within this group of CEOs, pointing to a larger problem within the C-suite.

Business Insider highlighted nine executive statements on inequality in the US and what needs to change.

Jamie Dimon, chairman and CEO of JPMorgan, said the racial wealth gap has "significantly" impacted Black and Latinx people.

Jamie Dimon, chairman and CEO of JPMorgan, said the racial wealth gap has "significantly" impacted Black and Latinx people.
JPMorgan Chase CEO      Reuters

"The racial wealth divide is a result of centuries of policies and systems that have significantly curtailed opportunity and wealth creation for Black and Latinx people. We have a historic opportunity to rebuild our nation to be more equitable for all."

Mary Barra, chairman and CEO of General Motors, said she supports policies that expand affordable childcare and funding to historically Black colleges and universities.

Mary Barra, chairman and CEO of General Motors, said she supports policies that expand affordable childcare and funding to historically Black colleges and universities.
General Motors CEO Mary Barra      Reuters

"It is clear that equity in education and quality childcare are two critical components to ensuring a successful future for students of color. And we know that a diverse and inclusive workplace is also crucial to business success. It creates a strong workforce and promotes fresh, innovative thinking."

"As business leaders, we are collectively opening new paths to jobs and career advancement by reviewing our hiring and promoting practices. We support policy actions that ease student debt burdens, increase access to high quality and affordable pre-K and K-12 education, and increase federal support for HBCUs and other minority-serving institutions."

Doug McMillon, president and CEO of Walmart, called racial inequality "deeply rooted" and "longstanding" in America.

Doug McMillon, president and CEO of Walmart, called racial inequality "deeply rooted" and "longstanding" in America.
Doug McMillon, president and CEO of Walmart      Adam Jeffery/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images

"The racial inequities that exist for many Americans of color are real and deeply rooted. These longstanding systemic challenges have far too often prevented access to the benefits of economic growth and mobility for far too many, and a broad and diverse group of Americans is demanding change. It is our employees, customers and communities who are calling for change, and we are listening – and most importantly – we are taking action."

Brian Moynihan, Bank of America's chairman of the board and CEO, said "underlying" disparities have been exacerbated by the pandemic and called for more action to combat racial injustice.

Brian Moynihan, Bank of America
Bank of America CEO Brian Moynihan      Shannon Stapleton/Reuters

"Underlying economic and social disparities that exist have accelerated and intensified during the global pandemic. The events of the past week have created a sense of true urgency that has arisen across our nation, particularly in view of the racial injustices we have seen in the communities where we work and live. We all need to do more," the CEO said at the end of May.

Alex Gorsky, chairman of the board and CEO of Johnson & Johnson, said he wants company leaders to hold themselves accountable to diversity and inclusion goals.

Alex Gorsky, chairman of the board and CEO of Johnson & Johnson, said he wants company leaders to hold themselves accountable to diversity and inclusion goals.
Johnson & Johnson CEO Alex Gorsky      Jonathan Ernst/Reuters

"We all have the opportunity to change the status quo — and business leaders across all sectors of the economy understand that change begins at home. That means doing all we can to make our companies as diverse and inclusive as possible, while ensuring accountability with measurable results. It is our responsibility to create opportunities for people of all backgrounds, and by prioritizing diversity and inclusion we can better our companies and our country."

Arne Sorenson, president and CEO of Marriott International, said higher incidences of chronic health issues about Black Americans and communities of color need to be addressed.

Arne Sorenson, president and CEO of Marriott International, said higher incidences of chronic health issues about Black Americans and communities of color need to be addressed.
Marriott International CEO Arne Sorenson      Drew Angerer/Getty Images

"The COVID-19 pandemic has exacerbated inequity in health and has had a disproportionate impact on communities of color. Higher incidences of underlying chronic health issues, including asthma, diabetes and hypertension, have compounded its effects on Black Americans and other communities of color. While the pandemic is unprecedented, sadly these health disparities are not new, resulting in many cases from systems, practices and implicit biases that perpetuate them. In addition to these inequities, there are also a number of factors – environmental, social and economic – that determine health outcomes. As employers, we're members of the communities where we operate, and we will work with government at all levels to help achieve better and more equitable health care and outcomes."

Rich Lesser, CEO of Boston Consulting Group, said "deep racial disparities" exist within the country and that businesses need to incorporate diversity and inclusion in their core business strategy.

Rich Lesser, CEO of Boston Consulting Group, said "deep racial disparities" exist within the country and that businesses need to incorporate diversity and inclusion in their core business strategy.
Boston Consulting Group CEO Rich Lesser      Courtesy of Boston Consulting Group (BCG).

"Companies have a critical role to play in addressing deep racial disparities, through internal diversity and inclusion efforts, corporate philanthropy, and most critically, through their core businesses. Meaningful changes will require bold moves, and BCG is committed to helping our firm, clients, and society become more inclusive and equitable for all."

Bob Swan, CEO of Intel, said inaction isn't an option and said the company will continue to hold itself accountable to diversity and inclusion goals.

Bob Swan, CEO of Intel, said inaction isn
Intel CEO Bob Swan      Intel

"Standing on the sidelines of racial and social justice is not an option. We remain committed to full inclusion and will continue to transparently share data to hold ourselves accountable and drive real change. Intel is also proud to advocate for public policy and legislative solutions that combat systemic inequity. Inclusion and equity are not a program or a competition. It's how we do business."

Jim Goodnight, CEO of software company SAS, said there needs to be more investment in early education to reduce inequality.

Jim Goodnight, CEO of software company SAS, said there needs to be more investment in early education to reduce inequality.
SAS CEO Jim Goodnight      Getty Images

"Our goal as business leaders should be to increase educational attainment for all students. Investments in pre-K and childhood literacy can move us closer to educational equity and a society that offers everyone an opportunity to reach their full potential, regardless of race or ethnicity."

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