Ethisphere Institute recognizes Avnet for leading with purpose and integrity
Avnet (NYSE: AVT),
a leading global technology distributor, has been recognized as one of
the 2018
World’s Most Ethical Companies by the Ethisphere®
Institute, a global leader in defining and advancing the standards of
ethical business practices. Avnet’s consistency in leading with purpose
and integrity has now been lauded by Ethisphere for five consecutive
years.
“On behalf of Avnet, I would like to express our gratitude to the
Ethisphere Institute for continuing to shine the spotlight on not only
the big-picture implications of supporting social, ethical and
environmental causes, but the many benefits purpose-driven companies
enjoy — increased profitability, highly engaged employees, more loyal
customers and fruitful innovation,” said Bill Amelio, Avnet CEO.
“Business leaders like myself are continually challenged with finding
that sweet spot where the ideals of people, planet and profits
intersect. It is not easy, but I believe that doing well by doing good
is not about being perfect, but always striving to do better and to be
better. That’s how I try to live my life, and it is a long-standing
characteristic of Avnet’s culture that I admire and am proud to have the
opportunity to support.”
Recognized each year since 2014, this award underscores the company’s
commitment to prioritizing ethical business practices. Defined by equal
measures of collaboration, ingenuity and integrity, Avnet’s business
model, philosophy and culture serve as a benchmark inspiring engineers
and makers at companies of all sizes to reach further with products and
processes that promote fairness and social value.
This year, 135 honorees spanning 23 countries and 57 industries earned
the designation as one of the World’s Most Ethical Companies. This class
of honorees had record levels of involvement with their stakeholders and
their communities around the world. Measuring and improving culture,
leading authentically, and committing to transparency, diversity and
inclusion were all priorities for honorees.
“While the discourse around the world changed profoundly in 2017, a
stronger voice emerged. Global corporations operating with a common rule
of law are now society’s strongest force to improve the human condition.
This year we saw companies increasingly finding their voice. The World’s
Most Ethical Companies in particular continued to show exemplary
leadership,” explained Ethisphere’s CEO, Timothy Erblich. “I
congratulate everyone at Avnet for being recognized as one of the
World's Most Ethical Companies.”
Ethics & Performance
Once again, the 2018 World’s Most Ethical Companies have proven that
operating with integrity leads to greater financial performance.
Research has found that, when indexed, listed World’s Most Ethical
Companies outperformed the U.S. Large Cap Index over five years by 10.72
percent and over three years by 4.88 percent. Ethisphere refers to this
as the Ethics Premium.
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the
Ethisphere Institute’s Ethics
Quotient
® (EQ) framework, which offers a quantitative way
to assess a company’s performance in an objective, consistent and
standardized manner. The information collected provides a comprehensive
sampling of definitive criteria of core competencies rather than all
aspects of corporate governance, risk, sustainability, compliance and
ethics.
Scores are generated in five key categories: ethics and compliance
program (35 percent), corporate citizenship and responsibility (20
percent), culture of ethics (20 percent), governance (15 percent), and
leadership, innovation and reputation (10 percent). All companies that
participate in the assessment process receive their scores, providing
them with valuable insights into how they stack up against leading
organizations.
Honorees
The full list of the 2018 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2018 honorees will be released in a
report and webcast in March and April of this year.
Click
to Tweet: Commitment to core values of #integrity #empathy
#ingenuity #collaboration #objectivity #know-how earns @Avnet
@Ethisphere #WorldsMostEthicalCompanies recognition for fifth
consecutive year. #ReachFurther http://bit.ly/1ll33LR
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All brands and trade names are trademarks or registered trademarks,
and are the properties of their respective owners. Avnet disclaims any
proprietary interest in marks other than its own.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining
and advancing the standards of ethical business practices that fuel
corporate character, marketplace trust and business success. Ethisphere
has deep expertise in measuring and defining core ethics standards using
data-driven insights that help companies enhance corporate character and
measure and improve culture. Ethisphere honors superior achievement
through its World’s Most Ethical Companies recognition program and
provides a community of industry experts with the Business Ethics
Leadership Alliance (BELA). More information about Ethisphere can be
found at https://ethisphere.com.
About Avnet
From idea to design and from prototype to production, Avnet supports
customers at each stage of a product’s lifecycle. A comprehensive
portfolio of design and supply chain services makes Avnet the go-to
guide for innovators who set the pace for technological change. For
nearly a century, Avnet has helped its customers and suppliers around
the world realize the transformative possibilities of technology. Learn
more about Avnet at www.avnet.com.
Avnet
Maureen O’Leary, 480-643-7499
maureen.oleary@avnet.com
or
Brodeur Partners, for Avnet
Jamie Ernst, 480-308-0286
jernst@brodeur.com
or
Ethisphere
Clea Nabozny, 480-397-2658
clea.nabozny@ethisphere.com