On August 19, 2019, 181 CEOs of America’s largest corporations overturned a 22-year-old policy statement that defined a corporation’s principal purpose as maximizing shareholder return.
In its place, the CEOs of Business Roundtable adopted a new Statement on the Purpose of a Corporation declaring that companies should serve not only their shareholders, but also deliver value to their customers, invest in employees, deal fairly with suppliers and support the communities in which they operate.
The updated Statement better reflected the way CEOs endeavor every day to create value for all of their stakeholders and challenged companies to do more. Through a year of unprecedented crisis, the nation’s companies have held to their commitment and risen to the challenge. Business Roundtable companies have invested in workers, taken a leading role in fighting the pandemic, and supported the communities where they serve. Companies have powerfully demonstrated their commitment to work for the benefit of all stakeholders through the current crises.