Apple's (AAPL - Get Report) Tim Cook, IBM's (IBM - Get Report) Ginni Rometty, Amazon's (AMZN - Get Report) Jeff Bezos and 178 other CEOs signed on to a pledge from the influential Business Roundtable that broadens a corporation's purpose from shareholders first to a more society-centric view.
Maximizing value for shareholders was the Business Roundtable's view of a corporation's purpose for 22 years.
But in a statement on Monday, Jamie Dimon, chairman and CEO of JPMorgan Chase (JPM - Get Report) and chairman of the Business Roundtable, said: "The American dream is alive, but fraying. Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term. These modernized principles reflect the business community's unwavering commitment to continue to push for an economy that serves all Americans."
The group now commits itself to "delivering value to our customers," "investing in our employees," "dealing fairly and ethically with our suppliers," and "supporting the communities in which we work," as well as "generating long-term value for shareholders," according to the statement, which it published as a full-page ad in Monday's Wall Street Journal print edition.
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