200 America’s top business leaders issued: a new definition of the “purpose of a corporation”

Shareholder value is no longer the main focus.
Source: Article by Maggie Fitzgerald via CNBC

 The reimagined idea of a corporation drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement at The Business Roundtable, a group of chief executive officers from major U.S. corporations.
Here's the full Business Roundtable statement:

The CEOs of nearly 200 companies just said shareholder value is no longer their main objective

Shareholder value is no longer the main focus of some of America's top business leaders. The Business Roundtable, a group of chief executive officers from major U.S. corporations, issued a statement Monday with a new definition of the "purpose of a corporation."

Each of our stakeholders is essential. We commit to deliver value to all of them, for the future success of our companies, our communities and our country.