CEOs' shift from shareholder value aimed at millennials, says former Business Roundtable president
was aimed at millennials who are growing skeptical of capitalism, according to John Engler, the former president of the pro-business coalition.
The Business Roundtable, a group of CEOs from large U.S. companies, said Monday that shareholder value should no longer be the primary goal of a corporation. Instead, firms should invest in employees, deliver value to customers, support outside communities and deal ethically with suppliers, according to the group's statement.
Engler, who was president of the Business Roundtable for seven years until 2017, said this statement was "nicely timed," especially with the presidential election in 2020.
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