Why did the Business Roundtable promise to no longer make shareholder returns their primary focus? There’s a lot more to it than just trying to be a good corporate citizen.
By Tim Mohin, Chief Executive, Global Reporting Initiative
Article
The pledge by 181 CEO members of the Business Roundtable that their companies will now serve all stakeholders, not just shareholders, has ignited fierce debate. But, in my humble opinion, it is largely a false debate.
At the risk of being a drowned voice in a sea of many, I’d like to passionately applaud the 181 CEOs in your membership that signed on to support a new, modernized definition of “the purpose of a corporation”— one that expands beyond simply maximizing shareholder returns to be more inclusive of actions that benefit employees, customers, the environment and society at large.
Visionary and Proven Philanthropic Leader Joins as Head of EarthShare, A National Environmental Philanthropy Working to Protect the Earth We Share
Press Release
BETHESDA, Md., July 8, 2019, /3BL Media/ – EarthShare, a leading environmental philanthropy supporting America’s largest coalition of environmental and conservation nonprofits and a strategic partner to the private-sector in corporate philanthropy and engagement, announced today that Bradley Leibov will join as its new chief executive officer.
CEOs from institutional investor firms BlackRock and State Street released their annual guidance to companies on practices they “believe will drive sustainable, long-term growth, and profitability.” These letters were issued amidst widespread cynicism, both so
by Julie Gorte, Ph.D., Senior Vice President, Impax Aseet Management and Pax World Funds
When I began working to make boards more gender diverse in 2001, the percentage of women on the boards of large companies in the United States was around 12 percent. By 2011, women had gained a few more seats at the table, and by 2016 women held 21 percent of board seats at Fortune 500 companies. At this rate of progress — less than one percent increase per year — it will be three more decades before big companies’ boards achieve gender parity. And that, sadly, is the good news.
CECP celebrates 20th anniversary since founding by Paul Newman, rebrands to Chief Executives for Corporate Purpose
Press Release
NEW YORK, February 26, 2019 /3BL Media/ — Sixty CEOs who are a part of Chief Executives for Corporate Purpose (CECP) –a coalition of 250 of the world’s largest companies that represent more than $6.6 trillion in revenues, $21.2 billion in social investment, 14 million employees, and $15 trillion in assets under management–met at CECP’s Board of Boards to examine critical success factors in building the business for the long-term.
CEOs from institutional investor firms BlackRock and State Street released their annual guidance to companies on practices they “believe will drive sustainable, long-term growth, and profitability.” These letters were issued amidst widespread cynicism, both so
Leading companies are laser-focused on corporate purpose. They explore what their purpose is and how it translates to their people and community and bring that purpose to life through intentional practices and strategies. They use a human-centered lens for all business operations because it helps them see around corners and delivers a competitive edge. All this leads to a future-forward outlook that enables a long-term view.
