USHCC Commends HP for Appointing Aida Alvarez to Board of Directors

WASHINGTON–(BUSINESS WIRE)–The United States Hispanic Chamber of Commerce (USHCC) congratulates
Aida Alvarez, former Administrator of the Small Business Administration
(SBA), on her appointment to the Board of Directors for HP Inc.

As SBA Administrator for the Clinton Administration, Aida Alvarez was
the first Hispanic woman and Puerto Rican to hold the now Cabinet-level
position. During her tenure, Alvarez presided over $61.5 billion in
loans, doubling the amount of loans to minorities and tripling the
amount for women. Prior to serving in the SBA, Alvarez was the first
Director of the Office of Federal Housing Enterprise Oversight, the
financial regulator for Fannie Mae and Freddie Mac.

“We applaud Meg Whitman and HP’s leadership for their strategic, and
historic appointment of Aida Alvarez — an acclaimed journalist,
successful investment banker, and accomplished SBA Administrator — to
their Board of Directors,” said USHCC President & CEO Javier Palomarez.
“While we recognize the need for Silicon Valley to increase diversity in
the boardroom, this appointment represents an important first step for
HP. We have no doubt the company will benefit from Aida’s expertise, as
well as enhance its services and market penetration to diverse consumers
as a result. The USHCC looks forward to supporting her in this new role
and working with HP to continue recruiting qualified Hispanic executives
to its board and leadership.”

Alvarez is the first Hispanic board member in Hewlett-Packard’s 77 year
history. She joins other prominent Hispanic executive leaders within HP,
such as General Counsel Kim Rivera; Chief Marketing Officer Henry Gomez;
Senior Vice President of Customer Advocacy Ramon Baez; Senior Vice
President, Applications and Business Services Katherine Garcia; Senior
Vice President, Enterprise Business Human Resources Elcio Barcelos; and
Vice President, Technology Services Ivonne Valdez.

“The USHCC commends HP for seeking to reflect the diversity of the
communities it serves in its Board of Directors,” said USHCC Chairman
Raymond Arroyo. “As the first Hispanic woman to serve as SBA
Administrator, Aida is an exemplary choice for this role. We are proud
to see HP recognize that diversity is a key component for world-class
leadership in our rapidly changing marketplace.”

About the USHCC

The USHCC actively promotes the economic growth, development and
interests of more than 4.1 million Hispanic-owned businesses, that
combined, contribute over $661 billion to the American economy every
year. It also advocates on behalf of 259 major American corporations and
serves as the umbrella organization for more than 200 local chambers and
business associations nationwide. For more information, visit


United States Hispanic Chamber of Commerce
Nidya Sarria,
Senior Communications Manager