PHOENIX--(BUSINESS WIRE)--ON Semiconductor Corporation (Nasdaq: ON), driving energy efficient innovations, today announced it has been named a 2017 World’s Most Ethical Company® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. This designation recognizes organizations that align principle with action by working tirelessly to make integrity part of their corporate DNA. These efforts shape future industry standards by introducing tomorrow’s best practices today.
“As the landscape of the semiconductor industry remains fluid and continuously consolidating, the ability to consistently demonstrate ethical operations and culture remains critical to business operations,” said Keith Jackson, ON Semiconductor president and chief executive officer. “The key factor to outpacing competitors is to stay true to a foundation built on integrity and accountability. Leveraging our ethical practices is one of our biggest differentiators. I want to personally thank all of our employees for their dedication to maintaining a strong corporate culture of compliance and ethics and for embedding ethical standards in every aspect of their jobs.”
“I am proud of our achievements as a two-time designee of this honor,” said Sonny Cave, ON Semiconductor executive vice president, general counsel, chief compliance and ethics officer, chief risk officer and corporate secretary. “This is a testament to the strength of our core values and steadfast dedication to our ethical foundation. Employees, customers and suppliers have seen the evidence of our actions, which continually reinforce the fact that they are doing business with a company that has high standards and a culture of compliance.”
ON Semiconductor is one of only six companies being honored in the Electronics and Semiconductors category, highlighting its leadership among global companies in ethical business standards and practices. ON Semiconductor attributes this prestigious recognition to its longstanding and active pursuit of the total alignment of all business objectives with exercising the utmost care and commitment to ethical stewardship across the entire organization of more than 30,000 employees in 31 countries. Starting with the CEO and the chief compliance and ethics officer, spanning to the executive leadership team and to every employee, the principles of compliance, ethics and corporate social responsibility are modeled from the top and instilled in each employee, in accordance with ON Semiconductor’s core values of respect, integrity and initiative. A strong foundation in compliance and ethics stemming from the company’s Board of Directors that is echoed throughout an organization results in trust from customers and partners, who count on the company to be honest and equitable, regardless of macroeconomic factors.
“Being recognized as a World’s Most Ethical Company is important not only to ON Semiconductor’s employees and our corporate culture, but to our customers and suppliers as well,” said Paul Rolls, executive vice president global sales and marketing. “Awards such as this one further strengthen our company’s brand and reputation, which further validates our customers' decision to do business with us. As a World’s Most Ethical Company, we have a business advantage over others in our industry.”
Methodology and Scoring
The World's Most Ethical Company 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 way. 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%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.
ON Semiconductor is also a full member, active participant and benchmarking leader of the Electronics Industry Citizens Coalition.
The full list of the 2017 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.
Best practices and insights from the 2017 honorees will be released in a series of infographics and research throughout the year (view or download the 2016 insights). Organizations interested in how they compare to the World’s Most Ethical Companies are invited to participate in the Ethics Quotient.
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. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine. More information about Ethisphere can be found at: http://ethisphere.com.
About ON Semiconductor
ON Semiconductor (Nasdaq: ON) is driving energy efficient innovations, empowering customers to reduce global energy use. The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient power management, analog, sensors, logic, timing, connectivity, discrete, SoC and custom devices. The company’s products help engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, medical, aerospace and defense applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, a robust compliance and ethics program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe and the Asia Pacific regions. For more information, visit http://www.onsemi.com.
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