Lincoln Electric Named One of The 2018
World’s Most Ethical Companies®
by The Ethisphere Institute
Recognition honors those who operate with purpose
and incorporate integrity into their ecosystems
Lincoln Electric Holdings Inc., (NASDAQ:LECO)
has been recognized by the Ethisphere Institute,
a global leader in defining and advancing the
standards of ethical business practices, as one
of the 2018 World’s Most Ethical Companies.
Lincoln Electric has been recognized as one of only
two honorees in the Machine Tools & Accessories
industry, underscoring their commitment to leading
with integrity and prioritizing ethical business
practices. In 2018, 135 honorees were recognized,
spanning 23 countries and 57 industries. The twelfth
class of honorees had record levels of involvement
with their stakeholders and their communities
around the world. Measuring and improving
culture, leading authentically and committing
to transparency, diversity and inclusion were all
priorities for honorees.
“We are honored to receive this recognition,” said
Christopher L. Mapes, chairman, president and CEO
of Lincoln Electric. “Lincoln Electric was founded
on the ‘Golden Rule’ and leads with integrity as a
core value that guides our team, our ‘2020 Vision
and Strategy’ and our commitment to excellence in
everything we do.”
“While the discourse around the world changed
profoundly in 2017, a stronger voice emerged. Global
corporations operating with a common rule of law
are now society’s strongest force to improve the
human condition. This year we saw companies
increasingly finding their voice. The World’s Most
Ethical Companies in particular continued to show
exemplary leadership,” explained Ethisphere’s CEO,
Timothy Erblich. “I congratulate everyone at Lincoln
Electric for being recognized as one of the World’s
Most Ethical Companies.”
Methodology & 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), corporate
citizenship and responsibility (20 percent), culture
of ethics (20 percent), governance (15 percent) and
leadership, innovation 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.
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www.lincolnelectric.com
16 TUBE NEWS March 2018