Purpose Revolution: The End of Shareholder Primacy?

09 Jun 2020
1:55 pm
Plenary

Purpose Revolution: The End of Shareholder Primacy?

In the summer of 2019, the US-based Business Roundtable of 181 CEOs announced that it abandoned the notion of shareholder primacy and replaced it with a new vision that focuses on a broader set of stakeholders including customers, workers, suppliers and communities in addition to shareholders. Has this announcement kicked off a revolution in corporate purpose? Is this the end of shareholder primacy as we know it, and if so, what is the new model of corporate purpose and where is capitalism headed?