PHOENIX, Ariz. – March 7, 2016 – ON Semiconductor (Nasdaq: ON), driving energy efficiency innovations, today announced it has been named a 2016 World’s Most Ethical Company® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. This is the 10th anniversary of Ethisphere and the World’s Most Ethical Companies designation, which recognizes organizations that align principle with action by working tirelessly to make integrity part of their corporate DNA. These efforts shape future industry standards by introducing tomorrow’s best practices today.
ON Semiconductor is one of only six companies being honored in the Electronic Components and Semiconductors category, highlighting its leadership among global companies in ethical business standards and practices. The company attributes this prestigious recognition to its longstanding and active pursuit of the total alignment of all business objectives with exercising the utmost care and commitment to ethical stewardship, across the entire organization of more than 24,000 employees in 26 countries. Starting with the CEO and the chief compliance and ethics officer, the principles of compliance, ethics and corporate social responsibility are modeled from the top and instilled in each employee, in accordance with ON Semiconductor’s core values of integrity, respect and initiative. That results in trust from customers and partners, who count on the company to be honest and equitable, even in the toughest of times.
“Given our competitive marketplace and the rapid consolidation occurring in our industry, the ability to consistently demonstrate ethical operations and culture is more critical than it has ever been,” said Keith Jackson, ON Semiconductor president and chief executive officer. “Companies who build their organizations on a foundation of integrity and accountability will outpace their competitors. In the current global environment, one of the biggest differentiators that companies can leverage is their ethical practices. I want to personally thank all of our employees for their dedication to maintaining a strong corporate culture of compliance and ethics.”
“Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior,” said Timothy Erblich, Ethisphere CEO. “Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage. Congratulations to everyone at ON Semiconductor for being recognized as a World’s Most Ethical Company.”
Methodology and Scoring
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ framework, developed over years of research and vetted and refined by the expert advice from Ethisphere’s World’s Most Ethical Company Methodology Advisory Panel. This EQ offers a quantitative method for assessing a company’s performance that is objective, consistent and standardized. The information collected provides a comprehensive sampling of definitive criteria for core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
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%). These scores are then provided to all companies who participate in the process.
“It is truly an honor to be awarded the World’s Most Ethical designation,” said Sonny Cave, ON Semiconductor executive vice president, general counsel, chief compliance and ethics officer, chief risk officer and corporate secretary. “This honor is a further testament of our steadfast dedication to the core values and the ethical foundation upon which we have built our company. Employees, customers and suppliers have seen the evidence of our actions, which continually reinforce the fact that they are doing business with a company that has high standards and a culture of compliance.”
ON Semiconductor is also a full member, active participant and benchmarking leader of the Electronics Industry Citizenship Coalition
The full list of the 2016 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.ethisphere.com/honorees/. The Ethisphere Institute plans to release best practices and insights from the 2016 honorees, in the form of a whitepaper and infographics, over the next few months.