The shareholder comes first has for years been the mantra of the Business Roundtable, a group representing the most powerful CEOs in America.
The group on Monday released a new mission statement that implies a foundational shift; a step back from shareholder primacy.
The new mission statement on “the purpose of a corporation” emphasizes that all stakeholders are important and that includes workers, suppliers, customers and the communities where corporations operate.
JPMorgan Chairman and CEO Jamie Dimon, who also chairs the Business Roundtable, said in a prepared statement that, “The American dream is alive, but fraying.”
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.