NEWARK, N.J., March 22 /PRNewswire-FirstCall/ -- Comerica Bank has earned a coveted spot on The 2007 DiversityInc Top 50 Companies for Diversity® list. The announcement was made by Luke Visconti, partner and cofounder of DiversityInc, a monthly business magazine and daily Web site. Comerica ranked 37th overall and number three in commitment to supplier diversity.
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"Comerica is much different from the average corporation; it is a true champion of diversity," Visconti said. "A total of 317 companies competed for a spot, a 100 percent increase in corporate participation in the Top 50 competition over the last three years."
Now in its seventh year, The DiversityInc Top 50 Companies for Diversity list is the largest competition of its kind. The list is determined solely from a comprehensive survey of diversity management that measures CEO commitment, human capital, corporate communications and supplier diversity.
"Supporting and fostering corporate diversity is critical to Comerica's day-to-day success," said Linda Forte, Comerica Bank senior vice president of Business Affairs and the bank's chief diversity officer.
"Our colleagues and the communities we serve have told us that corporate diversity matters, and that is one reason why diversity is one of our core values. When we live up to this commitment, we ensure our future success."
Companies on the DiversityInc Top 50 are remarkable in several ways, Visconti said:
The Top 50 hire 42 percent people of color; the U.S. work force is 29 percent people of color*
Although Top 50 companies employ only 5 percent of the U.S. work force, they employ 17 percent of the college-educated people of color*
Twenty-five percent of Top 50 companies' management represent people of color, compared with 12 percent people of color in management nationwide*
One hundred percent of the Top 50 offer domestic-partner benefits for same-sex couples, compared with 53 percent of Fortune 500 companies
Seventy-four percent of the Top 50 companies include gender orientation in their nondiscrimination policies, compared with only 24 percent of the Fortune 500*
Top 50 companies spend 9.7 percent of their procurement budgets with minority- and women-owned suppliers, compared with just 2 percent nationally*
Ninety-six percent of the Top 50 companies link executive compensation to diversity goals
Ninety percent of Top 50 CEOs sign off on executive compensation tied to diversity, compared with 72 percent last year*
For the fourth year in a row, the DiversityInc Top 50 companies, expressed as a stock index, beat the Standard & Poor's 500, the Dow Jones Industrial Average and the NASDAQ on a 10-, five- and one-year basis, documenting the connection between good diversity management, excellent corporate governance and return on equity for investors.
Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, and Canada and Mexico.
DiversityInc is a monthly business magazine, with a daily web site, http://www.diversityinc.com/. The DiversityInc Top 50 Companies for Diversity list is a purely editorial process and is completely independent of any business conducted with the company. DiversityInc was launched in 1997.
*Sources: The DiversityInc Top 50 Companies for Diversity, Bureau of Labor Statistics, Equal Employment Opportunity Commission, National Center for Education Statistics, Human Rights Campaign
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOAP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
SOURCE: DiversityInc
CONTACT: Luke Visconti of DiversityInc, +1-973-494-0502,
LVisconti@DiversityInc.com
Web site: http://www.comerica.com/
http://www.diversityinc.com/
