Annual award from Ethisphere Institute recognizes Avnet’s emphasis on leading a purpose-driven business model with integrity
PHOENIX, 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
"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
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
The full list of the 2020 World's Most Ethical
Companies can be found at https://worldsmostethicalcompanies.com/honorees.
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Avnet is a global
technology solutions provider with an extensive ecosystem delivering design,
product, marketing and supply chain expertise for customers at every stage of
the product lifecycle. We transform ideas into intelligent solutions, reducing
the time, cost and complexities of bringing products to market. For nearly a
century, Avnet has helped its customers and suppliers around the world realize
the transformative possibilities of technology. Learn more about Avnet at www.avnet.com.
All brands and trade names are trademarks or registered
trademarks, and are the properties of their respective owners. Avnet disclaims
any proprietary interest in marks other than its own.
About the Ethisphere Institute
Institute is the global leader in defining and advancing the standards of
ethical business practices that fuel corporate character, marketplace trust and
business success. Ethisphere has deep expertise in measuring and defining core
ethics standards using data-driven insights that help companies enhance
corporate character and measure and improve culture. Ethisphere honors superior
achievement through its World's Most Ethical Companies recognition program and provides
a community of industry experts with the Business Ethics Leadership Alliance
(BELA). More information about Ethisphere can be found at: https://ethisphere.com.