Business leaders including Jamie Dimon of JPMorgan Chase and Amazon CEO Jeff Bezos signed the pledge.
criticism for driving stark inequality in the U.S., nearly 200 CEOs at some of America’s largest and most prominent companies have issued a statement saying that corporations should no longer value shareholder profit above all—a fundamental change to what the purpose of a corporation is and how companies should go about corporate governance.
The pledge was signed by a group of 181 CEOs from the Business Roundtable, a public policy organization made up of a coalition of CEOs, including the chief executives of Amazon, Walmart, JPMorgan Chase and Apple. The statement didn’t list any specific policy changes but instead laid out high-level goals, such as considering customers, the environment, employees, suppliers and the community at-large.
This is the first time since 1997 the Business Roundtable has said that corporations shouldn’t exist solely to serve shareholders.the purpose of the new statement is to modernize the role of corporations. “Americans are struggling. Too often hard work is not rewarded, and not enough is being done for workers to adjust to the rapid pace of change in the economy,” the statement reads.
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