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/.
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About the Ethisphere Institute
The Ethisphere® 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.
Ethisphere honors superior achievement through its World’s Most Ethical
Companies® recognition program, provides a community of
industry experts with the Business Ethics Leadership Alliance (BELA) and
showcases trends and best practices in ethics with the publication of Ethisphere
Magazine and The World’s Most Ethical Companies Executive Briefing.
Ethisphere is also the leading provider of independent verification of
corporate ethics and compliance programs. More information about
Ethisphere can be found at: http://ethisphere.com.
About Avnet
Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest
distributors of electronic components, computer products and embedded
technology serving customers globally. Avnet accelerates its partners'
success by connecting the world's leading technology suppliers with a
broad base of customers by providing cost-effective, value-added
services and solutions. For the fiscal year ended June 28, 2014, Avnet
generated revenue of $27.5 billion. For more information, visit www.avnet.com.
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companies with which they are associated.
Copyright Business Wire 2015