Top CEOs say companies should put social responsibility above profit

Financial Post | Aug 19, 2019 at 3:55 PM
  • Companies should focus on social responsibilities as well as profits, the Business Roundtable, a group of corporate chief executives that includes the head of the largest U.S. bank and the CEO of the world’s largest airline.
  • The statement of corporate purpose, which shifts from shareholder primacy, was signed by the heads of more than 180 U.S. companies, including the CEOs of Amazon.com Inc, American Airlines, the largest airline in the world; and JPMorgan Chase & Co, the biggest American bank.
  • It comes at a time when companies are increasingly taking stances on issues outside of the corporate sphere due to pressure from activists amplified over social media and calls from their own employees.