PHOENIX, Ariz. – Feb. 26, 2019 – ON Semiconductor Corporation (Nasdaq: ON), driving energy efficient innovations, today announces that it has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2019 World’s Most Ethical Companies.
“Ethics is a top-down and a bottoms-up process at ON Semiconductor. Every team member is empowered and encouraged to talk about ethics and share their experiences,” said Keith Jackson, ON Semiconductor president and chief executive officer. “This award is a testament to our employees’ dedication to maintaining a strong culture of compliance and ethics, which results in trust from customers and partners who count on us to be honest and equitable. The focus on our ethical practices and our core values of respect, integrity and initiative, allows us to differentiate ourselves within the semiconductor industry.”
In 2019, 128 honorees were recognized spanning 21 countries and 50 industries. The thirteenth class of honorees profoundly illustrate how companies continue to be the driving force for improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose.
“We are proud to once again be recognized as a leader in advancing ethical business practices – and for the value that distinction brings to all of our stakeholders,” said Alan Campbell, ON Semiconductor president and chair of the board. “We know that ethical practices are critical to long-term success in today’s markets and this four-time designation is a true testament to the strength of our core values and dedication to our ethical foundation.”
ON Semiconductor has been recognized for four consecutive years and is one of only three honorees in the semiconductors industry category, underscoring its commitment to leading with integrity and prioritizing ethical business practices. In addition to this, ON Semiconductor was recognized in 2018 as a Fortune 500 company, was named as one of Fortune’s 100 Fastest Growing Companies, and was listed on the Dow Jones Sustainability Index.
ON Semiconductor 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 34,000 employees in 31 countries. Starting with the CEO and the chief compliance and ethics officer, spanning to the executive leadership team and to every employee, the principles of compliance, ethics and corporate social responsibility are role-modeled from the top and instilled in each employee, in accordance with ON Semiconductor’s core values of respect, integrity and initiative. A strong foundation in compliance and ethics stemming from the company’s board of directors that is echoed throughout an organization, results in trust from customers and partners, who count on the company to be honest and equitable regardless of macroeconomic factors.
“Today, employees, investors and stakeholders are putting their greatest trust in companies to take leadership on societal issues. Companies that take the long view with a purpose-based strategy are proven to not only outperform but last,” said Ethisphere’s chief executive officer, Timothy Erblich. “I congratulate everyone at ON Semiconductor for earning this recognition.”
Ethics and Performance
Ethisphere’s annual practice of tracking how the stock prices of publicly traded honorees compare to the Large Cap Index found that listed 2019 World’s Most Ethical Companies outperformed the large cap sector over five years by 14.4 percent and over three years by 10.5 percent.
Methodology and Scoring
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 rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership 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.
The full list of the 2019 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees
Best practices and insights from the 2019 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
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. More information about Ethisphere can be found at: https://ethisphere.com.