In global business, 19 August 2019 marks the moment that the influential US Business Roundtable redefined the ‘purpose of a corporation;’ rejecting the decades-long idea of shareholder primacy in favour of considering all stakeholders.
Purpose-led business leaders have welcomed the change, provided it is steeped in genuine action; while the sceptics remain unconvinced that shareholder returns won’t be compromised.
No matter your view, the BRT’s ground-breaking move is arguably a brave admission that the traditional view of capitalism needs to change and shared value, from my perspective, is a part of the solution.
Fortune’s Change the World List is another example of such leadership; celebrating the companies and business leaders that embrace corporate purpose, and recognise how it can add value to business and society. In our region, I look forward to acknowledging those at the forefront of this movement at the 2019 Shared Value Awards Gala Dinner on 23 October in Melbourne.
Finally, I would like to officially welcome Cerisse Denhardt and Bethany Crotty to the Shared Value Project team.
Chief Executive Officer
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