Avnet, Inc. (NYSE:AVT), a leading global technology distributor, announced today that it has been named a 2015 World’s Most Ethical Company® by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices. The World’s Most Ethical Companies designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company.
Being an honoree for the second year in a row emphasizes Avnet’s commitment to leading ethical business standards and practices globally to ensure long-term value for key stakeholders including customers, employees, suppliers, regulators and investors. Avnet was the only company in the Electronics Wholesale sector honored on this year’s list.
“Integrity is our number one core value by design. This guides our day-to-day decisions everywhere we do business,” said Rick Hamada, chief executive officer of Avnet, Inc. “We are trusted by the world’s leading technology companies not only because of our expertise and innovative solutions, but also because of our reputation as a leader in ethical practices. Avnet’s inclusion on the list of World’s Most Ethical Companies only reinforces our commitment accordingly and is a true source of pride for our employees worldwide, whose outstanding contributions and engagement help differentiate us as a global leader.”
Avnet was recognized because of its commitment and investment in initiatives that enhance and expand its ethics, compliance, sustainability, governance, and community outreach programs, as well as its industry leadership and innovation capabilities. Avnet supports ethical conduct with transparency in its policies, procedures and transactions, as well as ongoing training and a thorough audit process. Additionally, Avnet participated in the Carbon Disclosure Project in 2014 and published a 2014 Corporate Social Responsibility Report, which outlines other key Avnet initiatives that help make the world a better place to live, work and play.
“At Avnet, we know that results matter, but achieving those results the right way is what we pride ourselves on,” said Harvey Woodford, chief ethics and compliance officer, Avnet, Inc. “Being recognized as one of the World’s Most Ethical Companies for the second year in a row is a reflection of every employee’s commitment to acting with integrity and uncompromised business ethics around the world. In achieving this high standard, we help our customers and suppliers reduce costs and risks and go to market more efficiently.”
“The World’s Most Ethical Companies embrace the correlation between ethical business practice and improved company performance. These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the World’s Most Ethical Companies recognition involves more than just an outward facing message or a handful of senior executives saying the right thing,” said Ethisphere’s Chief Executive Officer Timothy Erblich. “Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at Avnet for this extraordinary achievement.”
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework, developed over years of research to provide a means to assess an organization’s performance in an objective, consistent and standardized way. 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. The EQ framework and methodology is determined, vetted and refined by the expert advice and insights gleaned from Ethisphere’s network of thought leaders and from the World’s Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%), and leadership, innovation and reputation (10%).
The full list of the 2015 World’s Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.