Source: Investor Place
This article was originally published on Investor Place – https://investorplace.com/
Fink, for those who are unaware, is the CEO of BlackRock (BLK), the world’s largest asset manager with $6.3 trillion under management. That’s a tremendous responsibility — one that Fink takes so seriously, that’s he not afraid to step on toes when a point has got to be made.
“To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society,” wrote Fink in his 2017 letter to the CEOs of the companies it owns as part of its fiduciary role as asset manager. “Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.”
Yes, it’s easy to write these things, but he actually believes them. He’s one of the most outspoken CEOs in North America, perhaps the world.
And that’s a good thing.
This past year was the rise of the #MeToo Movement, which has helped shine a spotlight on the lack of varied voices at the corporate table.
“We also will continue to emphasize the importance of a diverse board. Boards with a diverse mix of genders, ethnicities, career experiences, and ways of thinking have, as a result, a more diverse and aware mindset,” wrote Fink. “They are less likely to succumb to groupthink or miss new threats to a company’s business model. And they are better able to identify opportunities that promote long-term growth.”
If you’re a shareholder of BLK, you ought to be very proud of the way Fink conducts himself as CEO. Good stewardship is the ultimate ingredient for a successful business; BlackRock’s CEO provides just such leadership.