The Executive Leadership Council Honors Synchrony for Outstanding Commitment to DEI at 2023 ELC Annual Recognition Gala

Rhea-AI Summary

Synchrony receives the 2023 Corporate Award for commitment to diversity and inclusion from the Executive Leadership Council (ELC). They have increased the number of Black executives, improved supplier diversity, and pledged $50 million to their education initiative. Synchrony has also committed $100 million to Ariel Alternatives' Project Black. The ELC Annual Recognition Gala will deliver $2.8 million in scholarships.

Positive

• Synchrony recognized for commitment to diversity and inclusion
• Increased number of Black executives
• Improved supplier diversity
• Pledged $50 million to education initiative
• Committed $100 million to Ariel Alternatives' Project Black

Negative

• None.

The company recognized for its investment in increasing the diversity of its leadership and creating economic opportunity for employees, vendors and communities.

WASHINGTON, Sept. 27, 2023 /PRNewswire/ -- The Executive Leadership Council (ELC), the preeminent global membership organization for Black current and former CEOs, senior executives, board members, top-tier entrepreneurs, and global thought leaders, announced Synchrony (NYSE: SYF) as the recipient of its 2023 Corporate Award for outstanding commitment to achieving Diversity, Equity and Inclusion (DEI). Synchrony will be honored during the 2023 ELC Annual Recognition Gala taking place on Oct. 5, 2023 at 6:00 pm at the Gaylord National Resort and Convention Center, National Harbor, Maryland.

The ELC Corporate Award recognizes and celebrates companies that have exemplified the highest standards of partnership, collaboration, and commitment to diversity, equity, and inclusion in addition to advancing the careers and spheres of influence that Black leaders have within their organizations. Criteria evaluated for the award include diversity markers in board composition, C-suite, senior vice president pipeline, suppliers, and community impact and giving.

"As corporate diversity, equity and inclusion efforts have become a political target this year, Synchrony has continued to make DEI and citizenship a priority," said ELC CEO Michael Hyter. "The Synchrony leadership team is creating far reaching and lasting change for its organization, its employees, its partners, its customers and its communities. We are honored to recognize the Synchrony team with this year's 2023 ELC Corporate Award."

Chosen for its proven track record of leadership, Synchrony has increased the number of Black executives at the senior vice president and C-suite levels. Synchrony has also increased supplier diversity and in 2021, the company established their philanthropic platform, Education as an Equalizer. The initiative aims to expand access to higher education, skills training in high-growth fields and financial literacy, while increasing education equity for underserved students and marginalized individuals. Synchrony has pledged $50 million to this effort.

"We're honored and humbled to be recognized by The ELC for the hard work and outstanding contributions of our teams across Synchrony. They make it possible to deliver a more equitable workplace and a stronger talent pipeline for tomorrow," said Synchrony President & CEO Brian Doubles. "We're proud to stand alongside The ELC in its work, partnering to drive real, sustainable progress."

Synchrony has built its DEI strategy from the top. The results have promoted advancement and retention of its employees while providing an equitable experience and doing business with inclusion as a goal that supports the community.

Understanding the crucial role of capital to business success, Synchrony committed $100 million to Ariel Alternatives' Project Black, an initiative created by Mellody Hobson, co-founder of Ariel Alternatives, a private equity firm and home to Ariel's Project Black Fund. The $1.45 billion fund is focused on creating minority-owned businesses of scale, and seeking to provide Fortune 500 companies with diverse vendors. Hobson, another ELC honoree, will accept the ELC 2023 Achievement Award at this year's event.

The ELC Annual Recognition Gala is the organization's most important fundraising event, supporting its scholarships, educational outreach and philanthropic initiatives and recognizing its mission, purpose and impact in action. This year's gala highlights business achievement, honors corporate and individual trailblazers, and will deliver $2.8 million in scholarships to ELC Scholarship Program awardees. Google and The Coca-Cola Company are the Lead Sponsors of the 2023 Gala.

ABOUT THE ELC
The Executive Leadership Council opens channels of opportunity for the development of Black executives to positively impact business and our communities. An independent non-profit 501(c)(3) founded in 1986, The ELC is the pre-eminent membership organization committed to increasing the number of global Black executives in C-suites, on corporate boards and in global enterprises. Comprising more than 800 current and former Black CEOs, senior executives and board directors at Fortune 1000 and Global 500 companies and entrepreneurs at top-tier firms, its members work to build an inclusive business leadership pipeline that empowers global Black leaders to make impactful contributions to the marketplace and the global communities they serve. For more information, please visit www.elcinfo.com.

Engage during the event on social media: #ELCGALA and #UnstoppableTogether on Instagram, Facebook, and Twitter.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-executive-leadership-council-honors-synchrony-for-outstanding-commitment-to-dei-at-2023-elc-annual-recognition-gala-301940860.html

SOURCE The Executive Leadership Council