Nielsen CEO Mitch Barns recently led a panel discussion at CECP’s 11th annual Board of Boards meeting along with SC Johnson CEO, Fisk Johnson, and Hershey CEO, John P. Bilbrey. The panel, “Force for Good: Consumer Expectations and Societal Solutions,” focused on how SC Johnson, Hershey and Nielsen have responded to consumer needs by developing innovative approaches to leveraging their key competencies and core values to act as “forces for good” in making a positive impact on society.
The panel discussion highlighted key data from Nielsen’s recent Sustainability Imperative report to bring consumer expectations for corporate contributions to society into focus, noting that:
- 66% of consumers say they are willing to pay more for brands with a commitment to sustainability;
- Brands with a demonstrated commitment to sustainability saw more than 4% grow in sales while those without those same commitments saw growth of less than 1%; and
- For consumer goods companies in particular, social responsibility is one of the most influential factors for corporate reputation.
The Board of Boards is CECP’s annual flagship event for CEOs, gathering CEOs from top global Fortune 500 companies to discuss opportunities for infusing purpose and societal engagement into core business strategy. The theme of this year’s Board of Board’s convening was “Competing for the Long Run.”