Washington – Business Roundtable Chairman Doug McMillon, Chairman & CEO of Walmart, today announced on behalf of the association of CEOs the creation of a Special Committee of the Business Roundtable Board of Directors to advance racial equality and justice solutions.
“Over the past few days, I have watched with a heavy heart the violence, unrest and national outcry to end race-based injustice. Our employees, customers, and communities are looking to us to act now,” said Doug McMillon. “Having spoken to many CEOs of America’s leading businesses, I know they share my conviction that this is a time to act to address racial inequality. The pain our country is feeling should be turned into real change.”
The Business Roundtable Special Committee for Racial Equality and Justice includes Craig Arnold, Chairman & CEO of Eaton, Mary Barra, Chairman and Chief Executive Officer of General Motors Company, Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co., Alex Gorsky, Chairman of the Board and Chief Executive Officer of Johnson & Johnson, Robert Smith, Founder, Chairman and CEO of Vista Equity Partners, Arne Sorenson, President and Chief Executive Officer of Marriott International, Inc., and Randall Stephenson, Chairman and Chief Executive Officer of AT&T Inc.
The Special Committee will build on Business Roundtable’s work to promote broad economic opportunity and mobility, focusing on public policy solutions and corporate initiatives in the following areas:
Added McMillon: “Business Roundtable CEOs do not have all of the answers. But we are committed to doing our part to listen, learn and to use our collective influence and scale to advance racial justice and equal opportunity for all Americans.”
McMillon previewed the Business Roundtable Special Committee for Racial Equality and Justice this morning on CNBC’s Squawk Box. Last week, the Roundtable released a statement against racial injustice
Business Roundtable CEO members lead companies with more than 15 million employees and $7.5 trillion in revenues. The combined market capitalization of Business Roundtable member companies is the equivalent of over 27 percent of total U.S. stock market capitalization, and Business Roundtable members invest nearly $147 billion in research and development – equal to over 40 percent of total U.S. private R&D spending. Our companies pay $296 billion in dividends to shareholders and generate $488 billion in revenues for small and medium-sized businesses. Business Roundtable companies also make more than $8 billion in charitable contributions.