Top US CEOs rethink the meaning of shareholder value

Top US CEOs rethink the meaning of shareholder value

Top US CEOs rethink the meaning of shareholder value

The goal of a corporation is to serve all of its constituents, including employees, customers, investors and society at large, the Business Roundtable said Monday in a statement.

Former UBS Financial Services CEO Joe Grano told FOX Business on Monday that he is "delighted" that Dimon took the lead on the statement because he's the "best executive we have right now" and the move creates balance.

In its new statement of goal, the BRT said: "Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity". No longer should the primary job of a corporation be to advance the interests of shareholders, the coalition, known as the Business Roundtable, said in a statement. "Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity".

Since 1978, the BRT has issued its principles of corporate governance, with each version since 1997 endorsing the principle that corporations exist principally to serve shareholders. 19, that its new statement on "the objective of a corporation" emphasizes that all stakeholders are important, which includes workers, suppliers, customers and the communities their businesses are in.

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The group on Monday released a new mission statement that implies a foundational shift; a step back from shareholder primacy.

"The American dream is alive, but fraying", Dimon said in a statement. "We commit to deliver value to all of them, for the future success of our companies, our communities and our country".

"It has become clear that this language on corporate goal does not accurately describe the ways in which we and our fellow C.E.O.s endeavor every day to create value for all our stakeholders", the statement said.

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