NORTH CANTON, Ohio — The Timken Co., a global leader in bearings, has been recognized for the sixth time by the Ethisphere Institute as one of the world’s most ethical companies.
Timken is one of 131 organizations selected as a 2016 World’s Most Ethical Company. The designation recognizes companies that promote ethical business standards and align principle with action.
“We are proud to be recognized with this distinction, and we strive to demonstrate the highest ethical principles every day,” said Richard G. Kyle, Timken president and CEO. “As we grow around the world, we ensure all Timken associates, as well as those who represent our company, understand our long-standing commitment to our core value of ethics and integrity, and we expect them to conduct every aspect of our business with integrity.”
The Ethisphere Institute advances the global conversation on corporate ethics, responsibility and leadership. It has developed a framework that assesses an organization’s performance in an objective, consistent and standardized way. Scores are generated in five 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).
“Companies 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,” explained Timothy Erblich, CEO of Ethisphere.