Keckley Report August 26, 2019
Last week, the Business Roundtable (BR) released an update to its “Statement on the Purpose of a Corporation” calling for business leaders and boards to expand their focus beyond profitability. The revised statement, signed by 181 of the 188 BR members, pledges “fair and ethical” consideration of the company’s customers, suppliers, employees and communities in addition to shareholders.
BR has been around since 1974. Its membership includes the CEO’s of the biggest companies in the U.S. accounting for $7 trillion in revenues and employment for 15 million. Among its members are prominent healthcare companies- Allergan, Anthem, Bristol Myers Squibb, Cigna, CVS Health, Johnson and Johnson, Kaiser Permanente, McKesson, Pfizer, Stryker and Walgreen’s Boots Alliance.
This pronouncement from BR should be...
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