US Business Roundtable statement on the Purpose of a Corporation

On Monday 19th August 2019, the Business Roundtable published 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.

Since 1978, Business Roundtable has periodically issued Principles of Corporate Governance. Each version of the document issued since 1997 has endorsed principles of shareholder primacy that corporations exist principally to serve shareholders. The new Statement supersedes previous statements and outlines a modern standard for corporate responsibility to replace shareholder primacy.

 

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