【Top 10 International CSR Events】No.9 The CEOs of 181 U.S. top companies announce shareholder value is no longer their main objective

2020-01-21GoldenBeeGoldenBee0

Since 2006, we have been selecting and publishing the annual list of top 10 CSR events for 14 years. China Sustainability Tribune presents you the Top 10 International CSR Events in 2019.

NO.9 The CEOs of 181 U.S. top companies announce shareholder value is no longer their main objective

On August 19, the CEOs of 181 top American companies jointly signed the Statement on the Purpose of a Corporation at the Business Roundtable held in Washington. The Statement redefines the purpose of the company's operation, declaring that moving away from shareholder primacy, and a company's primary task is to create a better society.

Reason for listing:

Profit-seeking behavior seems to be an inherent characteristic of a company, and maximizing shareholders' interests has been regarded as a creed. Reversing these purposes and idea is undoubtedly a revolution in the business world. This will change the philosophy, behavior pattern and decision-making mechanism of businesses. This new revolution from the supply side will also profoundly affect the governance and consumption mode of the entire society and serve the sustainable future of the entire society.

For more information, please click here:

https://www.cnbc.com/2019/08/19/the-ceos-of-nearly-two-hundred-companies-say-shareholder-value-is-no-longer-their-main-objective.html

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