Business growth thrives in environments where leadership clearly and consistently focuses on guiding with purpose and integrity. For its continued commitment to these core values, Avnet (Nasdaq: AVT), a leading global technology solutions provider, has been recognized as one of the 2019 World’s Most Ethical Companies by the Ethisphere® Institute, a global leader in defining and advancing the standards of ethical business practices.
“We are honored to be named one of the world’s most ethical companies by Ethisphere Institute for the sixth consecutive year,” said Bill Amelio, Avnet CEO. “At Avnet, we are committed to building a purpose-driven business model and culture that achieves our goals while supporting the most pressing social, ethical and environmental causes. I want to thank all of our employees, suppliers and customers who believe by doing good, we really can make a difference in the world today.”
The award underscores Avnet’s commitment to prioritizing ethical business practices. Recognized every year since 2014, Avnet’s longstanding integrity and moral ethics underscore its business model, philosophy and culture. This in turn inspires employees to reach further and support customers and suppliers with products and services as well as processes that promote fairness and the social good.
“Avnet is among a select group of companies where purpose is infused into every aspect of their business,” said Ethisphere’s Chief Executive Officer Timothy Erblich. “Avnet has once again proven its leadership on societal issues and its ability to outperform in its industry. I congratulate everyone at Avnet for being among the World’s Most Ethical Companies.”
Ethics & Performance
Ethisphere’s annual practice of tracking how the stock prices of publicly traded honorees compare to the Large Cap Index found that listed 2019 World’s Most Ethical Companies outperformed the large cap sector over five years by 14.4 percent and over three years by 10.5 percent.
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), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership 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.