Category: News

NMSDC Announces 2022 Winners of The Equity Honors

NMSDC Announces 2022 Winners of The Equity Honors

2022 Equity Honors Honorees

FOR IMMEDIATE RELEASE
May 12, 2022

Press Contact:
Stefan Bradham
Vice President, Marketing and Communications
stefan.bradham@nmsdc.org

NMSDC introduced its newest awards program, The Equity Honors, as part of its inaugural Minority Business Economic Forum. The following winners were announced at the Equity Honors Awards Ceremony on May 12, 2022, at the Venue SIX10 in Chicago:

The Equity Honors for Chief Executive Officer of the Year
Craig Arnold, Chairman and Chief Executive Officer of Eaton Corporation

The Equity Honors for Chief Financial Officer of the Year
Daryl Bible, Chief Financial Officer of Truist

The Equity Honors for Chief Marketing Officer of the Year
Drew Otoo, Senior Vice President, Global Vaccines, Merck Human Health of Merck

The Equity Honors for Chief Procurement Officer of the Year
Paris Pavlou, Executive Director Global Purchasing and Manufacturing Services of General Motors Company, LLC

The Equity Honors for Chief Diversity Officer of the Year
Monica Jackson, Vice President, Global Inclusion & Diversity of Eaton Corporation

The Equity Honors for Public Service went to:
Isabella Casillas Guzman, Administrator of the U.S. Small Business Administration

“We are thrilled with the number of applications we received for our newest awards program, The Equity Honors,” said Ying McGuire, CEO and President of NMSDC. “We are turning the corner on supplier diversity to business diversity, and these winners are at the vanguard of economic equity and minority business integration. We need all lines of business engaged at our corporate members to accelerate the growth of minority business enterprises and close the wealth gap for systematically excluded communities of color.”

Thank you to your founding sponsors for their support of The Equity Honors and the Minority Business Economic Forum: Ariel Investments, Bristol Myers Squibb, MasTec, Truist, UPS, VDart, and World Wide Technology.

To schedule an interview with an Equity Honors awardee, please contact Stefan Bradham, Vice President of Marketing and Communications at stefan.bradham@nmsdc.org.

 

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About The Equity Honors
The Equity Honors awards corporate chief officers who have been recognized by their peers and our community as the true leaders at the vanguard of economic equity and minority business integration. They are the bold ones, breaking open old circles of influence and opportunity to usher in talent, perspectives, and expertise that have been too long ignored. They are the visionaries, creating the conditions for minority businesses to fully realize their vast, untapped impact on the American economy and quality of life. And they are unshakable, the living blueprints for upending the status quo and making the kinds of changes that change everything. For more information, please visit For more information, please visit https://www.theforum.nmsdc.org/equity-honors

About the Minority Business Economic Forum
Inspired by the World Economic Forum, the Minority Business Economic Forum is the leading event where NMSDC and its partners tap the top leaders of corporate America, the Presidential Administration, and leading thought academic leaders to recalibrate the MBE narrative to be an integral part of the American economy. To learn more, visit https://www.theforum.nmsdc.org/.

NMSDC Releases its 2021 Minority Business Economic Impact Report

NMSDC Releases its 2021 Minority Business Economic Impact Report

FOR IMMEDIATE RELEASE
May 3, 2022

Press Contact:
Stefan Bradham
Vice President, Marketing and Communications
stefan.bradham@nmsdc.org

New York, NY—The National Minority Supplier Development Council (NMSDC) releases its 2021 Minority Business Economic Impact Report as a follow-up study to its 2019 Report to better understand how the coronavirus pandemic and the racial justice movement affected NMSDC certified Minority Business Enterprises (MBEs) over the last two years. Although the pandemic has disproportionately affected systematically excluded communities of color, the racial justice movement, along with NMSDC’s steadfast focus on serving as an MBE growth engine, has seen certified MBEs grow significantly over the last two years:

  • 22% increase in total revenues at MBEs certified by NMSDC ($261 billion, up from $214 billion)
    • Asian owned firms saw a 31% increase
    • Hispanic owned firms saw a 7% increase
    • Black owned firms saw a 27% increase
    • Native American owned firms saw a 6% increase
  • 64% increase in total US jobs at MBEs certified by NMSDC (865,000, up from 528,000)
    • Asian owned firms saw a 76% increase
    • Hispanic owned firms saw a 40% increase
    • Black owned firms saw a 73% increase
    • Native American owned firms saw a 69% increase
  • 126% increase in wages earned by US employees at MBEs certified by NMSDC ($72 billion, up from $31.8 billion)
    • Asian owned firms saw a 125% increase
    • Hispanic owned firms saw a 92% increase
    • Black owned firms saw a 193% increase
    • Native American owned firms saw a 100% increase
  • Average employee composition at MBEs certified by NMSDC held steady at 70% minority employees.

Additionally, the report breaks down a state-by-state comparison between 2019 and 2021, which allows NMSDC to work with its Regional Affiliates to take a deeper dive into the why behind the numbers and develop strategies to address the decline in various regions.  For example:

  • Wyoming saw a 94% decrease in spend with MBEs and an 83% decrease in jobs at MBEs.
  • Florida saw a 24% decrease in spend with MBEs and a 21% decrease in jobs at MBEs
  • New Hampshire saw a 25% decrease in spend and 17% decrease in jobs.
  • Montana saw a 25% decrease in MBEs, 17% decrease in spend with MBEs, and 61% decrease in jobs at MBEs.

Finally, the Report discusses how businesses today are highly integrated, with every business relying on other businesses to create their products and services. As a result, MBEs support jobs not only in their own companies but also at the other businesses they utilize while running their operations, which expands the total impact on the United States (U.S.) economy through certified MBEs:

  • $396 billion in total economic activity driven through certified MBEs.
  • 75 million U.S. jobs supported directly and indirectly by certified MBEs.
  • $122 billion in wages earned through supported jobs.

2021 Minority Business Economic Impact Report“Overall, this Report shows how NMSDC is leading the charge to economic equity by creating connections that help MBEs and corporations to benefit from each other, stoking entrepreneurship, and growing wealth for these excluded communities,” comments Constance Jones, Senior Director of Field Services. “Closing the wealth gap is the key to creating a more united and prosperous society for all, and there is more work to be done!”

To download the 2021 Report, please visit here. And to schedule an interview with NMSDC, please contact Stefan Bradham, Vice President of Marketing and Communications at stefan.bradham@nmsdc.org.

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About supplier.io
supplier.io is redefining supplier diversity solutions. By providing innovative and solutions, we help our customers run manage and grow their supplier diversity programs effectively and strategically. Supplier Diversity Managers rely on our data, insights, and analytics. To learn more, visit https://supplier.io.

NMSDC Relocates Headquarters and Reinvests in MBE Growth

NMSDC Relocates Headquarters and Reinvests in MBE Growth

This move allows NMSDC the flexibility and efficiency to downscale our onsite footprint but maintain access to a full suite of services when we need them, including conference rooms, mail delivery, call answering, coworking space, and much more.

National Small Business Week 2022

National Small Business Week 2022

National Small Business Week 2022

National Small Business Week 2022
Building a Better America Through Entrepreneurship Virtual Summit May 2-5, 2022

May 1st through May 7th marks the dates for the U.S. Small Business Administration (SBA) to promote National Small Business Week. This year’s theme is “Building a Better America Through Entrepreneurship”, and as part of the commemoration, the SBA has put together a virtual summit that will provide small businesses across the country with resources to help them start, grow, or recover their business.

The virtual summit will acknowledge small businesses from across the country for their resilience, ingenuity, and creativity. It will also recognize SBA partners for their involvement in entrepreneurial development, disaster recovery, government contracting, financial development, and overall support for small businesses and entrepreneurship.

The SBA will co-host a free, four-day virtual summit from May 2 through May 5, 2022, along with SCORE, to honor the nation’s 32.5 million small businesses for their perseverance. This year’s summit will feature access to critical federal resources, educational workshops, and networking to help our nation’s entrepreneurs pivot and grow in the face of any challenge, seize new opportunities, and make sure the dream of starting a small business is in reach for every American.

Details on National Small Business Week, including event registration and speaker information are available at www.SBA.gov/NSBW.

NMSDC Introduces The Equity Honors at the Minority Business Economic Forum

NMSDC Introduces The Equity Honors at the Minority Business Economic Forum

NMSDC Announces its Inaugural Minority Business Economic Forum

FOR IMMEDIATE RELEASE
April 20, 2022

Press Contact:
Stefan Bradham
Vice President, Marketing and Communications
stefan.bradham@nmsdc.org

NMSDC Introduces The Equity Honors at the Minority Business Economic Forum


New York, NY—The National Minority Supplier Development Council (NMSDC) introduces its newest awards program, The Equity Honors, as part of its inaugural Minority Business Economic Forum (the Forum) held May 11-13, 2022, with Honorary Chair, John W. Rogers, Jr., Chairman and Co-CEO of Ariel Investments.

The Equity Honors will be presented to corporate chief officers who have been recognized by their peers and our community as the true leaders at the vanguard of economic equity and minority business integration. They are the bold ones, breaking open old circles of influence and opportunity to usher in talent, perspectives, and expertise that have been too long ignored. They are the visionaries, creating the conditions for minority businesses to fully realize their vast, untapped impact on the American economy and quality of life. And they are unshakable, the living blueprints for upending the status quo and making the kinds of changes that change everything.

Nominations were accepted in the following categories during the month of March 2022: CEO, COO, CFO, CIO, CMO, CDO, and CPO of the Year (or equivalent position). The 2022 Equity Honor Nominees include:

  • Craig Arnold, Chairman and Chief Executive Officer, Eaton Corporation
  • Daryl Bible, Chief Financial Officer, Truist
  • Melody Birmingham, Senior Vice President & Chief Procurement Officer, Duke Energy
  • Rogerio Branco, Executive Vice President and Chief Supply Chain Officer, Eaton Corporation
  • Gordon Brooks, Chief Procurement Officer, Eli Lilly and Company
  • Bonnie Clinton, VP and Chief Procurement Officer, Toyota Motor North America
  • James Connell, Chief Procurement Officer, JPMorgan Chase & Co.
  • Mark Crawford, Senior Vice President & Global, Head of Diversity Equity & Inclusion, BP America, Inc.
  • Leonardo (Len) DeCandia, Chief Procurement Officer, President, Johnson & Johnson Services, Inc., Johnson & Johnson
  • Nedra Dickson, Global Supplier Inclusion & Diversity Client Lead, Accenture
  • Brian Downer, Chief Procurement Officer & Executive Vice President, Truist
  • Reuben Essandoh, Director, Supplier Diversity, Capital One Financial Corp.
  • James Farley, President and Chief Executive Officer, Ford Motor Company
  • Karen Fichuk, Chief Executive Officer, Randstad USA
  • Clint Grimes, Chief Procurement Officer, Capital One Financial Corp.
  • Cheryl Harris, Senior Vice President Sourcing and Procurement Solutions, Allstate
  • Brett Hart, President, United Airlines
  • Monica Jackson, Vice President, Global Inclusion & Diversity, Eaton Corporation
  • Chad Johnson, Vice President, Chief Procurement Officer, Humana, Inc.
  • Rachel Kutz, Vice President, Consumer Supply Chain & Global Logistics, AT&T Inc.
  • Rob Lidster, Chief Procurement Officer, Haier US Solutions Inc
  • Ana Elena Marziano, Chief Procurement Officer, Procter & Gamble Company
  • Wendy McSweeney, Executive Vice President, Chief Diversity, Equity & Inclusion Officer, Truist
  • Gregory Michel, Head of Procurement, National Basketball Association
  • Lissa Miller, Chief Supplier Diversity Officer, Truist
  • Jennifer Moceri, Vice President, Global Procurement & Chief Procurement Officer, Google, Inc.
  • Curt Morgan, Chief Executive Officer, Vistra Energy
  • Drew Otoo, Senior Vice President, Global Vaccines, Merck Human Health, Merck
  • Paris Pavlou, Executive Director Global Purchasing and Manufacturing Services, General Motors Company, LLC
  • Hemant Porwal, Executive Vice President, Supply Chain & Operations, Wesco
  • Jonas Prising, Chairman & Chief Executive Officer, ManpowerGroup
  • Christena Pyle, Chief Equity Officer, Dentsu
  • Ric Schneider, Vice President, Chief Procurement Officer, Abbott Laboratories, Inc.
  • Phil Seidler, Senior Vice President Supply Chain, Vistra Energy
  • Todd Stohlmeyer, Global Lead Procurement and Transportation, Cargill
  • Taryn Thompson, Chief Procurement Officer, Bank of America Corporation
  • Anthony (Tony) Tomczak, Vice President, Corporate Services & Chief Procurement Officer, DTE Energy Company
  • Susanna Webber, Chief Procurement Officer & Senior Vice President, Merck & Co., Inc

Nominees will join NMSDC at the Forum to be honored at The Equity Honors Awards Reception and Ceremony on May 12, 2022, with winners announced between 6:30-7:30PM CT, streaming live for free to the NMSDC’s network. Interviews can be scheduled onsite with nominees from 4:00-5:00PM CT on May 12, 2022 or by phone prior to the Forum.

For more information about The Equity Honors, please visit https://www.theforum.nmsdc.org/equity-honors,  and for more information about the Forum, please visit www.theforum.nmsdc.org.

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NMSDC Announces its Inaugural Minority Business Economic Forum

NMSDC Announces its Inaugural Minority Business Economic Forum

“This leading event will tap the top leaders of corporate America, the Administration, and leading thought leaders in academia to re-calibrate the MBE narrative to be an integral part of the American economy and serve as a catalyst towards achieving $1 trillion in MBE annual revenue generation (4.3% of US GDP) to support MBE growth.” – Ying McGuire, CEO and President of NMSDC

NMSDC Commends the U.S. Small Business Administration’s Rule Modifications to Small Business Size Standards

NMSDC Commends the U.S. Small Business Administration’s Rule Modifications to Small Business Size Standards

NMSDC Commends the U.S. Small Business Administration’s Rule Modifications to Small Business Size Standards

FOR IMMEDIATE RELEASE
April 15, 2022

Press Contact:
Stefan Bradham
Vice President, Marketing and Communications
stefan.bradham@nmsdc.org

NMSDC commends the recent U.S. Small Business Administration’s (SBA) final four rules to modify revenues-based small business size standards in 16 North American Industrial Classification System (NAICS) sectors that will increase small business eligibility for SBA’s federal contracting and loan programs for approximately 59,000 additional firms. The final rules are part of the second five-year review of size standards, as required under the Small Business Jobs Act of 2010.

“Our national network of over 15,000 MBEs will benefit greatly from this new rule change,” comments Ying McGuire, CEO and President of NMSDC. “And, it is our hope to continue to work with Administrator Guzman and the Administration to bring greater economic equity, transparency, and accountability in federal government contracting.”

Minority business enterprises (MBEs) have faced historical disenfranchisement and institutional barriers in government contracting which have continuously suppressed economic growth to minority businesses. With the historic passing of the Bipartisan Infrastructure Law the SBA’s revised rules will help bring economic equity in the federal contracting process during the implementation of the law.

“NMSDC applauds the Biden Administration,” adds Carlton L. Oneal, NMSDC National MBE Input Committee Chair and President LightSpeedEdu, Inc. “Their concerted efforts regarding data transparency on government contracting with systematically excluded communities of color, such as Blacks, Hispanics/Latinos, Asian Americans, Native Hawaiians, Pacific Islanders, and Tribal Nations, have resulted in creating some of the necessary changes to strike down barriers within these communities.”

The final rule in the Federal Register affects four key areas: Transportation and Warehousing, Information, Finance and Insurance, and Real Estate and Rental and Leasing. NMSDC supports this extraordinary first step and will continue to advocate for breaking down other barriers that continue to suppress economic equity for all MBEs.

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