Grant Reid’s Dream of Making EoM a Beacon for Other Companies
Published March 2020
In a recent interview with Andy Serwer of Yahoo Finance, Grant Reid, CEO of Mars, Incorporated, spoke among other things about his dream of seeing the Economics of Mutuality becoming a ‘vibrant beacon’ for other companies to follow.
Selected highlights have been transcribed below.
“We’ve been talking about mutuality and giving something back to our consumers, our associates, our stakeholders and the planet since 1947.
There was an original letter on the objective of the company, so it’s that long-term view – the family connection. We don’t have to think or report quarterly so it gives us an opportunity to think generationally so you can take a longer-term view.
… We attract a lot of talent because of our purpose: ‘The world we want tomorrow starts with how we do business today’. We’re very unusual – we’ve been talking about the Economics of Mutuality and our five principles and that’s a big draw for talent today.
… I think it starts as a CEO having a vibrant, exciting, growing company that’s creating economic growth not only for ourselves but for the communities in which we operate.
If I had one dream it would be to take what we call the Economics of Mutuality, which is the compass, and really make it a vibrant beacon for other companies to follow – this idea of inclusive capitalism being broader than just financial return. If we can bring that to life in my tenure that would be fantastic”
Edited for space and clarity. Photo: Mars, Incorporated.
Other Articles
Asia Economics of Mutuality Forum 24-25 April 2024
Korean and global leaders in business, academia, government, and civil society will gather at Hanyang University in Seoul, South Korea, to launch the inaugural Economics of Mutuality Foundation and Hanyang University’s Global Forum on the role of business and investing in society. The event will take place from April 24 to 25, 2024. The two-day event will include addresses by Professor Colin Mayer, former Dean of Oxford University’s Said Business School; Chairman Moon Kook Hyun, President of the New Paradigm Institute and former CEO of Yuhan-Kimberly, and Dr. Jay Jakub, the Executive Director of the Economics of Mutuality Foundation, and co-author of the book, “Completing Capitalism.” The event will highlight the roles of academia, corporations, investors, family offices and entrepreneurs in creating an ecosystem of mutual value co-creation by how companies deploy their capital in society.
Oxford Virtual Executive Education Program 2 May – 20 June 2024
Driving Impact Through Mutual Value Creation, an 8-week online course brought to you by Oxford University’s Saïd Business School and the Economics of Mutuality team, will equip you to walk the talk of Stakeholder Capitalism.
Nordic Economics of Mutuality Forum October 15-16
The first Economics of Mutuality forum to be held in Scandinavia, this event taking place October 15-16, 2024 will be hosted by Brandinnova, the Center for Brand Research at the Norwegian School of Economics (NHH), Jæren Sparebank, and the Economics of Mutuality Foundation.
How Witnessing an Economy of Greed Led Me to Pursue an Economy of Good
Tony Soh is CEO of the National Volunteer & Philanthropy Centre (NVPC) in Singapore. In this interview, he tells us how his experience of the global financial crisis led him to search for better ways of doing business. A graduate of the Oxford Economics of Mutuality Virtual Executive Education Program, he is working to build a movement around corporate purpose in his city