Top US CEOs say shareholders' profits no longer top priority

Top US CEOs say shareholders' profits no longer top priority

Top US CEOs say shareholders' profits no longer top priority

The chief executives of eight Dallas-Fort Worth-based companies are among business leaders commiting to abandon a long-held view that shareholders' interests should come first.

A coalition of executives representing some of America's largest companies issued a statement on Monday that redefines "the objective of a corporation". It's a departure from the business theories of Milton Friedman, the Nobel-Prize-winning economist who said society benefits most from companies that grow their profit and serve one master: shareholders.

Companies should now not only aim to serve the owners of their capital but also protect the environment and treat workers with "dignity and respect" while also delivering long-term profits for shareholders, the BRT said. Since 1978, it has occasionally released principles of corporate governance, and in each of the last 22 years, the company has said the primary responsibility of companies is to their shareholders.

Major Bluetooth Security Flaw Discovered, Leaves Millions of Devices Vulnerable
On the other hand, it is said that attackers can exploit this fault even when the devices had already been paired previously. Bluetooth SIG is the global body that is responsible for standards for Bluetooth connections.

Several high-profile U.S. businessmen have warned that capitalism is failing. The CEOs of locally based Exxon Mobil, McKesson, AT&T, American Airlines, Texas Instruments, Fluor, Jacobs and Vistra Energy joined Dimon in signing the roundtable's statement.

Some of the biggest names in business put their signature on the statement, including Amazon's Jeff Bezos and Apple's Tim Cook.

The perception that the American dream is out of reach for many people is a powerful narrative that has altered the political landscape ahead of the 2020 presidential election. 19, that its new statement on "the goal of a corporation" emphasizes that all stakeholders are important, which includes workers, suppliers, customers and the communities their businesses are in.

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