Recognition honors those companies who take the long view with a purpose-based strategy and strive to create positive change throughout their global communities.
CLEVELAND, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings Inc., (LECO) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World’s Most Ethical Companies.
Lincoln Electric has been recognized for the third consecutive year and is the only honoree in the Machine Tools & Accessories industry category. In 2020, 132 honorees were recognized spanning 21 countries and 51 industries.
“We are honored to receive this recognition as it reinforces our organization’s purpose of operating by a higher standard to build a better world,” said Christopher L. Mapes, Chairman, President and Chief Executive Officer of Lincoln Electric. “For 125 years, our organization’s guiding principle has been the ‘Golden Rule’ and we are proud of our strong culture of integrity, ethics and our commitment to excellence in everything we do.”
“Congratulations to everyone at Lincoln Electric for earning this recognition,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “This is a moment to acknowledge the leaders working to advance corporate cultures defined by integrity and affirm those companies contributing to broader societal imperatives and the greater good.”
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Best practices and insights from the 2020 honorees will be released in a report and webcast in March and April of this year.
All companies that participate in the assessment process receive an Analytical Scorecard providing them a holistic assessment of where their programs stand against the demanding standards of leading companies.
About Lincoln Electric
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment and has a leading global position in brazing and soldering alloys. Headquartered in Cleveland, Ohio, Lincoln has 59 manufacturing locations in 18 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at https://www.lincolnelectric.com.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.
Vice President, Investor Relations & Communications