June 4, 2008
The Ethisphere Institute Names Eaton One Of ‘World’s Most Ethical Companies’
CLEVELAND … Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) announced today that it has again been named to the Ethisphere Institute’s World’s Most Ethical Companies list. Ethisphere revealed the list of companies yesterday at a joint conference with Forbes Magazine, “Driving Profit through Ethical Leadership.” The list of World’s Most Ethical Companies will also be featured in the second-quarter issue of Ethisphere Magazine.
“We are proud to be recognized by Ethisphere for the second year for our commitment to ethical awareness and practices,” said Alexander M. Cutler, Eaton chairman and chief executive officer. “Eaton is a values-based organization dedicated to doing business right. Ethical values are fundamental to Eaton and distinguish us as a company.”
Cutler continued, “I wish to recognize our employees around the world for their commitment to our customers, communities and company.”
Researchers and analysts reviewed several thousand companies to select the more than 100 finalists. The research and selection process included reviewing codes of ethics; litigation and regulatory infraction histories; evaluating investment in innovation and sustainable business practices; looking at companies’ activities to improve corporate citizenship; studying nominations from senior executives, industry peers, suppliers, and customers; and working with consumer action groups for feedback and rating.
“Eaton is among the companies honored this year because they have developed impressive and meaningful ethical business practices, making them true standouts within their industries,” said Alexander Brigham, executive director of the Ethisphere Institute. “They go well beyond legal minimums, opting instead to bring about innovative ideas that contribute to the public well-being.”
Since being named to Ethisphere’s roster of the World’s Most Ethical Companies in the fall of 2007, Eaton has received widespread recognition for responsible business practices, including:
• Ranking first in its industry sector for “Best Corporate Citizens” according to Corporate Responsibility Officer magazine
• Receiving “Most Committed Multi-National Award” for Social Responsibility in China from Foreign Investment in China magazine
• Ranking second among the “100 Best Corporate Citizens,” according to Corporate Responsibility Officer Magazine
• Being honored by China WTO Tribune magazine for achievements in providing sustainable products and services in China.
The research-based Ethisphere Institute and associated membership group, the Ethisphere Council, are supported by more than 100 institutions and corporations, including Thomson West, the Practising Law Institute, the National Association of Corporate Directors, the Global Reporting Initiative and Corpedia. The Institute is dedicated to the research, creation and sharing of best practices in ethics, compliance and corporate governance among its member companies. It also focuses on the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice and unique career opportunities. Ethisphere Magazine is the quarterly publication of the Institute. More information on membership can be found at http://www.ethisphere.com.
Eaton Corporation is a diversified industrial manufacturer with 2007 sales of $13.0 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; hydraulics, fuel and pneumatic systems for commercial and military aircraft; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 79,000 employees and sells products to customers in more than 150 countries. For more information, visit www.eaton.com.