BlackRock CEO: Firms should engage stakeholders for profitability


BlackRock CEO Larryfinks

NEW YORK: BlackRock Inc chief executive officer Larry Fink (pic) urged companies to engage with all stakeholders to secure long-term profitability, defending his approach to capitalism as the head of the world’s largest asset manager.

In his annual letter to CEOs, Fink said capitalism is driven by mutually beneficial relationships “between you and the employees, customers, suppliers, and communities your company relies on to prosper.”

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