Avnet Named as One of the World’s Most Ethical Companies for Seventh Consecutive Year

by -321 views

Annual award from Ethisphere Institute recognizes Avnet’s emphasis on leading a purpose-driven business model with integrity

US – Media OutReach – 26 February 2020 – Avnet, a leading global technology solutions provider, has again been recognized by Ethisphere as one of the 2020 World’s Most Ethical Companies, marking the seventh consecutive year of recognition for Avnet. This award, from a global leader in defining and advancing the standards of ethical business practices, honors the company’s consistent commitment to leading with integrity and purpose.

Avnet has been recognized every year since 2014 and is the sole honoree in the electronic components industry. In 2020, 132 honorees were recognized spanning 21 countries and 51 industries.

“We are honored to be named one of Ethisphere’s most ethical companies for the seventh consecutive year,” said Bill Amelio, Avnet CEO. “In this critical time of transformation for our company, we’re focused on doing well as a company by doing good in the world. Our core values–especially those of integrity and empathy–have guided us through our nearly 100 years in the distribution industry, and we are looking forward to embarking on our next century as a distributor and a technology solutions provider with a renewed commitment to those principles.”

The award underscores Avnet’s ongoing commitment to prioritizing ethical business practices and inspiring employees to reach further and meet business goals with processes that promote fairness and social good.

“Congratulations to everyone at Avnet for earning this recognition,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “This is a moment to acknowledge the leaders working to advance corporate cultures defined by integrity and to affirm those companies contributing to broader societal imperatives and the greater good.”

Ethics & Performance
Ethisphere’s research supports the conclusion that ethics and financial performance go hand-in-hand. The annual practice of tracking how the stock prices of publicly traded honorees compare to the Large Cap Index found that listed 2020 World’s Most Ethical Companies outperformed the large cap sector over five years by 13.5 percent. This “Ethics Premium” forms the basis upon which companies can correlate responsible behavior with shareholder value.

Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain.

The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Best practices and insights from the 2020 honorees will be released in a report and webcast in March and April of this year.

All companies that participate in the assessment process receive an Analytical Scorecard providing them a holistic assessment of where their programs stand against the demanding standards of leading companies.