Dr. Lockhart grew up during the civil rights era and has had a career in healthcare, including executive roles. He got onto his first corporate board through personal connections, emphasizing the importance of networking. For aspiring board members, he advises choosing boards where you feel comfortable and can contribute meaningfully.
Lockhart believes race plays a role in board selection, but qualifications and fit are paramount. He recommends balancing listening and speaking up on boards, asking clarifying questions, and offering fresh perspectives. To be effective, he suggests making strategic contributions, building relationships with other board members, and choosing appropriate committee assignments.
On increasing black representation on boards, Lockhart is optimistic. He cites programs like the Black Corporate Board Readiness initiative as helpful in dispelling myths about lack of qualified candidates. He encourages sitting directors to refer diverse candidates and advocates for presenting the business case for diversity to companies.
Lockhart supports board term limits and temporary board expansions to increase diversity. He believes institutional investors can play a crucial role in pushing for diversity. While cautioning against quotas, he agrees that some regulatory push, such as increased disclosure requirements, could be beneficial.
For aspiring candidates, Lockhart advises:
1.Recognize your value and right to be in the boardroom
2.Network with those on corporate boards
3.Be patient and selective about opportunities
He emphasizes the importance of authenticity, building relationships, and being prepared to contribute unique perspectives. Lockhart believes diverse candidates bring valuable lived experiences and expertise to corporate boards.
