The following news release was issued today by the Business Roundtable.

Washington – Business Roundtable, an association of chief executive officers of leading U.S. companies with more than $5 trillion in annual revenues and nearly 10 million employees, today announced that Alexander (Sandy) Cutler, Chairman and CEO of Eaton Corporation, will lead the organization’s Corporate Leadership Initiative. Cutler succeeds Anne Mulcahy, Chairman and CEO of Xerox Corporation, who has led the Initiative since 2005. 

“Effective corporate governance provides for trust and confidence in business,” said Cutler. “I am honored to take on this position as Chair of Business Roundtable’s Corporate Leadership Initiative during this critical time.”

Cutler will lead Business Roundtable’s advocacy on the pressing issues of proxy access and regulatory reform. Recently, Cutler chaired Business Roundtable’s financial regulatory reform working group which issued Principles for Responding to the Financial Markets Crisis in May. In light of recent economic conditions, as well as the Obama Administration’s and Congress’ interest in financial regulatory reform, these principles serve as a framework for advancing debate on this critical issue. In his new capacity as Chair, Cutler will continue to work to highlight these corporate governance best practices and reform recommendations.

“Business Roundtable is committed to principles of effective corporate governance and is dedicated to working with Congress and the Administration as they consider regulatory reform in this area,” said Ivan G. Seidenberg, Chairman and CEO of Verizon Communications and recently-named Chairman of Business Roundtable. “I am confident that Sandy will be an excellent leader and a strong voice for our members on corporate governance issues.”

Since 2000, Cutler has been Chairman and CEO of Eaton Corporation, a Cleveland-based power management company with $15 billion in annual sales. They have approximately 75,000 employees and sell products to customers in more than 150 countries.

Business Roundtable is an association of chief executive officers of leading U.S. companies with more than $5 trillion in annual revenues and nearly 10 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and pay nearly half of all corporate income taxes paid to the federal government. Annually, they return $133 billion in dividends to shareholders and the economy.

Business Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with more than $70 billion in annual research and development spending – more than a third of the total private R&D spending in the U.S. For more information visit  www.businessroundtable.org .