The groups are part of the Business Roundtable, a lobbying group that periodically publishes credos on the “Purpose of a Corporation.” This statement marks the first since the group’s inception in 1978 to diverge from the idea that “corporations exist principally to serve their shareholders,” a press release reads.
The new purpose includes a commitment to fair compensation for workers, diversity and inclusion, as well as sustainable business practices and ethical dealings with suppliers, among others.
Healthcare companies that signed include Abbott, Allergan, Anthem, Bristol-Myers Squibb, Cigna, CVS Health, Johnson & Johnson, Mallinckrodt Pharmaceuticals, McKesson, Medtronic, Pfizer, Stryker and Walgreens Boots Alliance. Other notable companies include Amazon, Apple, JPMorgan Chase and Boeing.
Read more here.
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