20
The news was unexpected. In mid-2019, the Business Roundtable, an association of 188 CEOs who lead America’s largest companies, broke with a 20-year tradition of advocating for shareholder capitalism. Shareholder primacy, the CEOs argued, was out. Going forward, corporations needed to deliver value to all their stakeholders: customers, employees, suppliers, and communities, as well as shareholders. JPMorgan Chase CEO Jamie Dimon, the group’s chairman, explained, “[The new purpose] more accurately reflects how our CEOs and their companies actually operate. It will help set a new standard for corporate leadership.”1
You will not be surprised to learn that the announcement drew a mixed response. “This is tremendous news because ...
Get Better, Simpler Strategy now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
