"For CEOs who only focus on shareholders, let them be warned, they will not be CEOs very long," Benioff said, promoting "Trailblazer," the new book he co-authored with Salesforce executive Monica Langley.
Instead, the billionaire entrepreneur and philanthropist said CEOs must embrace a wider perspective that also includes the well-being of "stakeholders" — such as employees, public schools, people who are homeless, and communities writ large. "This is how to make a great company," said the co-CEO and chairman of Salesforce. "This is how to have a company that customers want to do business with, that attracts employees, that develops partnerships, that integrates local communities, that saves the planet.""Look at our financial return since we went public, right here in 2004," he said, sitting on the"Look at how we rank against everyone else over the same 15-year period.
Over that same time, Benioff said Salesforce has given $300 million in grants and its employees have volunteered over four million hours of their time. He added that 40,000 nonprofits and nongovernmental organizations are using Salesforce's customer relationship management software for free. "The homeless are a stakeholder for me, that's why I was fighting for Proposition C, a tax on our self, because we have to deal with the homeless situation in San Francisco," Benioff added. "If, as the largest employer in San Francisco, I'm not focused on that, if they aren't one of my key stakeholders, then what is?"
Salesforce co-CEO Marc Benioff believes CEOs must focus on more than just the shareholders, but on the employees, community, and environment. equilarinc notes Benioff earned $28,391,846 in 2018, a 510% increase from 2017. $CRM execcomp CorpGov Source:
Bienoff has it partially correct. CEOs should focus on shareholder's first; second they should focus on being good US citizens and when profitable, through charity, help their communities.
That is all ceos wow stupidity
it's all fun and games until the share price drops Marc. in the end sjw concerns take a back seat to profits. yes we want to be concerned about doing 'the right thing' ethically, but don't get confused here. stock price and profits come first.
CharlizeAfrica Adopt me. 14987 Valley Vista Blvd, 91403 {-$2,171,489.31}
oh yeah this guy is a real crusader bahahhah
lol for ceos who dont focus on shareholders be warned you wont last long!!!! lol
Benioff Sounds like Humanity First Capitalism from AndrewYang please read
Salesforce co-CEO Marc Benioff believes CEOs must focus on more than just the shareholders, but on the employees, community, and environment. equilarinc notes Benioff earned $28,391,846 in 2018, a 510% increase from 2017. $CRM execcomp CorpGov Source:
AndrewYang Zach_Graumann
Dont think the 4%, 25%, 50% raise model can be maintained anymore. It is creating far more homelessness every single year. :( BTW 4% = average employee and up the ladder from there. Kind of backwards.
Oh if only the above was true. It is not. Never has been. Never will be. Capitalism is a ten headed Hydra - lop one of and another two appear. Bernie! Bernie! Bernie!
Billionaires should not exist.
MB is idiot
Benioff fatigue, please stop.
Socialist CEO's Hmmm
yes, it's greed.
I get it but terrible idea to have sec mandate social rules like that. They don’t even reg min standards of corp governance well (see deletefacebook) companies have three legs to stand on. Customers, employees, then shareholders.
Yeah I hear things are going great out there in your hood.
Braun industries also dove into social politics.
This is actually dangerous. Activist billion dollar companies influences public policy which is the milieu of individual citizens. You are unelected and should not have outsized influence on our society. Imagine a similar company with opposite politics...
Future politician....not a compliment.
Just because he said it doesn’t mean it’s right.
You mean 1) put 90% of profit into stock buy backs 2) Move production to places without labor laws or environmental protections 3) Lobby to cut corporate tax rates, and ensure subsidies 4) retire as the company flounders on its massive debt burden acquired to do the above 3
Mark Benioff sold 600k worth of CRM stock EVERY DAY for SIX YEARS
Bernie2020
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »