CEOs of Eight Dallas-Fort Worth Companies Sign on to Rethink Meaning of Shareholder Value

The chief executives of eight Dallas-Fort Worth-based companies are among business leaders commiting to abandon a long-held view that shareholders' interests should come first.The purpose of a corporation is to serve all of its constituents, including employees, customers, investors and society at large, the Business Roundtable said Monday in a statement. Jamie Dimon, chief executive officer of JPMorgan Chase & Co., heads the group. The CEOs of locally-based Exxon Mobil, McKesson, AT&T, American Airlines, Texas Instruments, Fluor, Jacobs and Vistra Energy joined Dimon in signing the roundtable's statement.Also signing on was Abidali Neemuchwale, who lives in Coppell and heads India-based Wipro Ltd., one of the largest IT firms in the world."While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders," the group said in the statement. "Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity."The 181 signatories also included the CEOs of several Wall Street banks and energy giants, Amazon founder Jeff Bezos and Robert F. Smith, who lives in Austin and runs private equity firm Vista Equity Partners.  Continue reading...