March 24th 2023.
Ten students from Historically Black Colleges and Universities (HBCUs) have been chosen for the fifth cohort of the Hennessy Fellows Program, a collaboration between the Thurgood Marshall College Fund and Hennessy. This program provides financial aid, training, and professional development to assist the next generation of Black leaders in developing and diversifying executive leadership roles in corporate America. The 10-year program has been funded by an approximate $14 million commitment from Hennessy to TMCF.
Due to increasing pressure on large U.S. companies to increase Black representation in executive and boardroom roles, the Hennessy Fellows Program has been created to address diversity gaps and create a more diverse workforce. This year, the cohort consists of students from Morgan State University, Howard University, Clark Atlanta University, and Florida A&M University. So far, around 30 Black students have finished the program since it began in 2019, and many of them now work for well-known companies such as Warner, AbbVie, Accenture, and John Deere.
In a press release, it was announced that the fellows recently spent a weekend in Charlotte to launch the latest cohort, where they took part in leadership, communication, and media relations workshops over three days. Later this year, they will attend an executive boot camp in New York City that will focus on skills such as executive presence, finance, and operations.
The fellows were selected after a comprehensive application process. Each fellow will receive executive coaching, a scholarship of up to $20,000 per academic year, and a $10,000 annual stipend for educational costs. They will also be able to apply for a community-related project grant of up to $10,000, as well as gain access to online training and networking events.
Jasmin Allen, senior vice president at Hennessy U.S., said, “We are providing them with resources, investment, and development opportunities so they can reach their goals and make sure HBCU students are successful during their undergraduate years and beyond.”
Harry L. Williams, president and CEO at TMCF, remarked, “We are proud to announce this next cohort of Black student leaders who will shape and disrupt Corporate America. Each one exhibits unique leadership and communication skills that made them top candidates for the Hennessy Fellows program.”
The 2023 Hennessy Fellows are:
Ten students from Historically Black Colleges and Universities (HBCUs) have been chosen for the fifth cohort of the Hennessy Fellows Program, an initiative between the Thurgood Marshall College Fund and Hennessy cognac producer. This program is designed to financially support, train, and provide professional development to the next generation of Black leaders, as well as help to construct and diversify executive roles in corporate America. Hennessy has secured a $14 million commitment to TMCF in order to finance the 10-year program.
The pressure has been increasing on large U.S. businesses to increase Black representation in executive and boardroom positions. While 14% of all U.S. employees are Black, that workforce at the managerial level is only 7%; for vice president and senior vice president roles, the figures drop to 5% and 4% respectively. As such, companies have made pledges to hire Black personnel and amplify minority representation in the C-suite as part of their racial equity endeavours. Observers have proposed that HBCUs can supply a supply of promising talent.
The Hennessy Fellows Program is an effort to reduce diversity gaps and develop a more diverse workforce. This year's cohort consists of students from several HBCUs, including Morgan State University, Howard University, Clark Atlanta University, and Florida A&M University. To date, 30 Black students have finished the program since its launch in 2019, some of whom now work for Warner, AbbVie, Accenture, and John Deere.
The fellows spent a weekend in Charlotte to commence the latest cohort, where they took part in leadership, communication, and media relations seminars over three days. They will be in New York City later in the year for an executive boot camp which will concentrate on abilities such as executive presence, finance, and operations.
The fellows were selected after a comprehensive application process. Each fellow will obtain executive coaching, a scholarship up to $20,000 each academic year, and a $10,000 annual stipend for other educational expenses. They can also apply for a community-related project grant up to $10,000, as well as have access to online training and networking events.
Jasmin Allen, senior vice president of Hennessy U.S., said, “By providing them with the necessary resources, investment, and development opportunities that can help them reach their goals, we continue to ensure HBCU students are positioned for success during their undergraduate years and beyond.”
Harry L. Williams, president and CEO of TMCF, remarked, “We are proud to announce this next cohort of Black student leaders who will define and disrupt Corporate America. Each presents a unique set of leadership and communication skills that positioned them as top candidates for the Hennessy Fellows program.”
The 2023 Hennessy Fellows are:
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