Top CEOs Pledge to Consider Stakeholders Besides Shareholders

Some top U.S. executives are pledging to consider stakeholders besides shareholders in corporate decision making.

The Business Roundtable, an association that lobbies on behalf of CEOs, has updated a decades-old statement saying that the purpose of a corporation is to serve shareholders. Now it says companies should also work for their customers, employees, suppliers, and communities.

“Each of our stakeholders is essential,” the statement, issued Aug. 19, says. “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”

The statement was signed by 181 CEOs, including the group’s ...