Corporate purposes should go beyond just profits, shareholder value: panel

Singapore

COMPANIES ought to do away with focusing just on enhancing profits and shareholder value and align themselves with the needs of society and a "higher purpose", speakers said at a panel during the Stewardship Asia Roundtable 2022 on Thursday (Mar 31).

Arnoud De Meyer, chairman of the Stewardship Asia Centre (SAC) and one of the panellists, noted that the "shareholder value" model was one that was originally developed to manage the relationship between a company's chief executive and its shareholders.