Fourteen state treasurers on Wednesday urged the Business Roundtable to reject woke activism and focus on making corporations politically neutral.that the group’s 2019 redefining of the purpose of a corporation to focus on aiding stakeholders, including leftist groups such as Black Lives Matter, has moved corporations leftward.
The Business Roundtable doubled down on their backing of leftist stakeholders in a blog post this month, stating, “In the long term, the interests of a company’s stakeholders are inseparable. No single stakeholder will succeed unless they all do.” The state officials wrote, “A refocus on shareholders would better serve stakeholder employees by hiring and retaining the best candidates, regardless of race. And“Institutions of all kinds are being pressured to depart from their proper purpose and serve a left-wing ideology. In the case of corporations, doing so harms shareholder value. It is more important than ever to honestly state the purpose of your corporation and your role, and ‘live not by lies,'” the continued.
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