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Businesses make and sell consumer products manufacture equipment and vehicles support the national defense grow and produce food provide health care generate and deliver energy and offer financial, communications and other services that underpin economic growth.

We believe the free-market system is the best means of generating good jobs, a strong and sustainable economy, innovation, a healthy environment and economic opportunity for all.īusinesses play a vital role in the economy by creating jobs, fostering innovation and providing essential goods and services. Statement on the Purpose of a CorporationĪmericans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity.

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The Business Roundtable Statement on the Purpose of a Corporation is below and the full list of signatories is available here. “ This is tremendous news because it is more critical than ever that businesses in the 21st century are focused on generating long-term value for all stakeholders and addressing the challenges we face, which will result in shared prosperity and sustainability for both business and society,” said Darren Walker, President of the Ford Foundation. In the end, it’s the most promising way to build long-term value,” said Tricia Griffith, President and CEO of Progressive Corporation. They put the customer first and invest in their employees and communities. “ CEOs work to generate profits and return value to shareholders, but the best-run companies do more. By taking a broader, more complete view of corporate purpose, boards can focus on creating long-term value, better serving everyone – investors, employees, communities, suppliers and customers,” said Bill McNabb, former CEO of Vanguard.

“ I welcome this thoughtful statement by Business Roundtable CEOs on the Purpose of a Corporation. Industry leaders also lent their support for the updated Business Roundtable Statement, citing the positive impact this commitment will have on long-term value creation: “ This new statement better reflects the way corporations can and should operate today,” added Alex Gorsky, Chairman of the Board and Chief Executive Officer of Johnson & Johnson and Chair of the Business Roundtable Corporate Governance Committee. “ It affirms the essential role corporations can play in improving our society when CEOs are truly committed to meeting the needs of all stakeholders.” These modernized principles reflect the business community’s unwavering commitment to continue to push for an economy that serves all Americans.” “ Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term. “ The American dream is alive, but fraying,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co. With today’s announcement, the new Statement supersedes previous statements and outlines a modern standard for corporate responsibility.

Each version of the document issued since 1997 has endorsed principles of shareholder primacy – that corporations exist principally to serve shareholders. Since 1978, Business Roundtable has periodically issued Principles of Corporate Governance. WASHINGTON – Business Roundtable today announced the release of a new Statement on the Purpose of a Corporation signed by 181 CEOs who commit to lead their companies for the benefit of all stakeholders – customers, employees, suppliers, communities and shareholders.