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Akins Signs Business Roundtable ‘Statement on the Purpose of a Corporation’

by on August 23, 2019

Nick Akins, chairman, president and chief executive officer of American Electric Power, is one of about 180 executive members of the Business Roundtable who signed the group's recent 'Statement on the Purpose of a Corporation.'

"This statement reminds corporations, like AEP, that we serve stakeholders, not just shareholders," Akins said. "We have a long-term view on creating value for our investors and also our customers, the communities we are in, and the employees that make our success possible." 

The statement highlights five pillars that the companies commit to:

  • Delivering value to our customers. We will further the tradition of American companies leading the way in meeting or exceeding customer expectations.
  • Investing in our employees. This starts with compensating them fairly and providing important benefits. It also includes supporting them through training and education that help develop new skills for a rapidly changing world. We foster diversity and inclusion, dignity and respect.
  • Dealing fairly and ethically with our suppliers. We are dedicated to serving as good partners to the other companies, large and small, that help us meet our missions.
  • Supporting the communities in which we work. We respect the people in our communities and protect the environment by embracing sustainable practices across our businesses.
  • Generating long-term value for shareholders, who provide the capital that allows companies to invest, grow and innovate. We are committed to transparency and effective engagement with shareholders.

Executives from most of America's major corporations singed the statement, including the CEO's of Amazon, Apple, Duke Energy, the Southern Company, Exxon, Walmart, Proctor and Gamble, Chase, Boeing, Anthem, and many more.

To see the entire document and associated corporations and executives, click here.

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