VF Corporation Named One of the World's Most Ethical Companies by the Ethisphere Institute
GREENSBORO, N.C.--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, has been recognized as one of the 2018 World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. VF is the only apparel company to make the list, underscoring the company’s commitment to leading its industry through ethical business standards and practices.
“We are honored to be once again recognized as one of the world’s most ethical companies,” said Steve Rendle, VF’s Chairman, President and CEO. “At VF, we believe that business success and social responsibility are interconnected. Our 65,000 associates around the world operate by this ethos every day, and this recognition is testament to their integrity, commitment and passion for doing the right thing across VF’s global enterprise.”
The World's Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies in the areas of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), corporate citizenship and responsibility (20 percent), culture of ethics (20 percent), governance (15 percent) and leadership, innovation and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
“While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society’s strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World’s Most Ethical Companies in particular continued to show exemplary leadership,” explained Ethisphere’s CEO, Timothy Erblich. "I congratulate everyone at VF for being recognized as one of the World's Most Ethical Companies."
In 2018, 135 honorees were recognized, spanning 23 countries and 57 industries. The twelfth class of honorees had record levels of involvement with their stakeholders and their communities around the world. Measuring and improving culture, leading authentically and committing to transparency, diversity and inclusion were all priorities for honorees. The full list of the 2018 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
VF Corporation (NYSE: VFC) outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans®, The North Face®, Timberland®, Wrangler® and Lee®. Founded in 1899, VF is one of the world’s largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels. VF is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit www.vfc.com.
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 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.
Source: VF Corporation