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20 Aug 2019

Nearly 200 CEOs say their companies are committed to delivering value to all stakeholders, not just shareholders

On August 19, 2019, the Business Roundtable (BRT), a lobbying group composed of leading CEOs in the US, released an updated Statement on the Purpose of a Corporation. This statement expresses a fundamental commitment to all stakeholders, including customers, employees, suppliers, communities, and shareholders, differing from a long-standing view that shareholder profit is the sole purpose of corporations.

The statement received support from 181 CEOs, including the leaders of major multinationals such as Amazon, Apple, Chevron, The Coca-Cola Company, Dell, Exxon, Ford, PepsiCo, Procter & Gamble, and Walmart, as well as the leaders of large financial firms such as Bank of America, BlackRock, Citigroup, Goldman Sachs, JPMorganChase, Morgan Stanley, and Vanguard.