Diversified industrial manufacturer Eaton Corporation announced December 12 that it is ranked first in its industry sector on Corporate Responsibility Officer (CRO) Magazine’s 10 Best Corporate Citizens List for 2007. Eaton received top honors among 54 companies in the Auto and Vehicles sector, which included aerospace, industrial and other transportation-related companies.
“Eaton is a values-based organization committed to doing business right,” said Alexander M. Cutler, Eaton chairman and chief executive officer. “We are honored to be recognized by CRO for our practices and programs. I want to recognize the global members of our team for their commitment and achievements.”
CRO contracted with IW Financial, a Portland, Maine-based research firm, to analyze the citizenship efforts of large-cap, publicly traded companies in various sectors. CRO and IW Financial evaluated the most influential U.S. public companies, drawn predominantly from the Russell 1000 Index, and evaluated them in eight categories: environment, climate change, human rights, employee relations, corporate governance, lobbying, philanthropy and financial. The rankings were averaged to determine "CRO's 10 Best" companies for each industry.
"Using these eight categories of corporate citizenship allowed us to do a truly comparative rating of the whole company, finding the best overall package according to the criteria,” explained Mark Bateman, director of research, IW Financial.
"We saw this exercise as a valuable way to decipher companies' performance on things like governance and sustainability issues, especially when looking at how they did when measured against other companies in the marketplace,” said CRO editor-in-chief Dennis Schaal.
Headquartered in
Other companies recognized in the Auto and Vehicles sector were Deere & Company, ITT Corporation, Ford Motor Company, General Motors Corporation, Lockheed Martin Corporation, Raytheon Company, Johnson Controls, Inc., Cummins, Inc. and Caterpillar Inc.
In addition to being recognized by CRO Magazine, Eaton was named by Foreign Investment in
As part of this recognition, Eaton was noted for its active role in protecting the environment through its efforts to create “green dynamics” for sustainable development.
Eaton Corporation is a diversified industrial manufacturer with 2006 sales of $12.4 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 63,000 employees and sells products to customers in more than 140 countries.
