Purpose of a Corporation
Buried deep in this article is the suggestion shareholder value has overridden safety and transparency at Boeing. While this is hardly a surprising suggestion, it might have been a more appropriate tagline.
Ironically, very recently in August Boeing’s now-former CEO was one of 181 U.S. chief executives to sign the Business Roundtable’s “Purpose of a Corporation” in which the interest of all stakeholders, and not solely shareholders, are championed.
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Boeing Needs to Jettison More Than Its CEO
https://www.wsj.com/articles/boeing-needs-to-jettison-more-than-its-ceo-11577121581
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Boeing has installed a new leader from its Board that has presided over the company for more than a decade. Here, the WSJ suggests more change is necessary when customers and community are subordinated in favor of investors. Looking at the list of "Purpose of a Corporation" signatories, many leaders of the nation's largest corporations representing myriad industries agree.
Says Jamie Dimon: “Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term. These modernized principles reflect the business community’s unwavering commitment to continue to push for an economy that serves all Americans.”
The Business Roundtable proclamation received little fanfare, but I applaud it for its vision and for its long-term mindset. “It affirms the essential role corporations can play in improving our society.”
Have a look at the link below, I am very confident that if your own leader didn’t sign it, then the leader of your competitor likely has done so.
Change is always afoot. As the next decade progresses I encourage all of us to do everything we can to be part of this change. In this case, I think it can maximize shareholder value as well.