Eastman Chemical Company: Eastman Chemical Company Named as a 2014 World's
Most Ethical Company by the Ethisphere® Institute
Eastman reaffirms its commitment to honesty, integrity and responsible
Kingsport, TENN., March 20, 2014 - Eastman Chemical Company (NYSE:EMN)
announced today that it has been recognized by the Ethisphere® Institute as a
2014 World's Most Ethical Company® for its efforts to continually raise the
bar on ethical leadership and corporate behavior.
"Eastman is dedicated to conducting all business activities in accordance with
the highest legal and ethical standards," stated David Golden, Senior Vice
President, Chief Legal Officer, and Corporate Secretary for Eastman. "For
nearly 100 years, business ethics have been top priority for Eastman. Ethics
are critical to success because they build trust and confidence in our
employees, customers, suppliers, and communities in which we work and live.
Receiving this prestigious recognition further reinforces the commitment to
honesty, integrity and responsible corporate behavior inherent in the Eastman
Eastman has a number of policies and initiatives in place that allow its team
members to cultivate a culture of the highest integrity and ethical
standards. The company has an Office of Global Business Conduct, led by
Eastman's Chief Legal Officer, which establishes the Code of Business Conduct.
Globally, dedicated Eastman professionals are employed to support the company
and its partners in doing business in the most ethical and compliant manner.
The Code of Business Conduct outlines the laws, principles and guidelines all
employees follow regarding honesty, integrity and responsible corporate
The company also has a third party Code of Conduct, called 'Doing Business
with Eastman', which outlines the high ethical standards that Eastman expects
of its business partners. Annual training on the Code of Business Conduct is
required for all employees. Additionally, the 24-hour available Business
Conduct Helpline provides an anonymous means for employees and business
partners to report suspected violations.
World's Most Ethical Company honorees understand the correlation between
ethics, reputation and daily interactions with their brand and that the award
belongs as much to their associates as it does to them. Eastman is one of only
three companies in the global chemical industry honored this year.
"The entire community of World's Most Ethical Companies believe that
customers, employees, investors and regulators place a high premium on trust
and that ethics and good governance are key in earning it," said Ethisphere's
Chief Executive Officer, Timothy Erblich. "Eastman joins an exclusive
community committed to driving performance through leading business practices.
We congratulate everyone at Eastman for this extraordinary achievement."
The World's Most Ethical Company assessment is based upon the Ethisphere
Institute's Ethics Quotient(TM) framework. The Ethics Quotient framework has
been developed over years of effort to provide a means to assess an
organization'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. The Ethics
Quotientframework and methodology was determined, vetted and refined by the
expert advice and insights gleaned from Ethisphere's network of thought
leaders and from the World's Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program
(25%), reputation, leadership and innovation (20%), governance (10%),
corporate citizenship and responsibility (25%) and culture of ethics (20%).
The full list of the 2014 World's Most Ethical Companies can be found at
About Eastman Chemical Company
Eastman is a global specialty chemical company that produces a broad range of
products found in items people use every day. With a portfolio of specialty
businesses, Eastman works with customers to deliver innovative products and
solutions while maintaining a commitment to safety and sustainability. Its
market-driven approaches take advantage of world-class technology platforms
and leading positions in attractive end-markets such as transportation,
building and construction and consumables. Eastman focuses on creating
consistent, superior value for all stakeholders. As a globally diverse
company, Eastman serves customers in approximately 100 countries and had 2013
revenues of approximately $9.4 billion. The company is headquartered in
Kingsport, Tennessee, USA and employs approximately 14,000 people around the
world. For more information, visit www.eastman.com.
About the Ethisphere Institute
The Ethisphere® Institute is an independent center of research, best practices
and thought leadership that promotes best practices in corporate ethics and
governance and enables organizations to improve compliance, mitigate risk, and
enhance relationships with employees, business partners, investors and the
broad regulatory community. Ethisphere evaluates and benchmarks compliance and
governance programs, honors superior achievement through its World's Most
Ethical Companies® recognition program and publishes Ethisphere Magazine.
Ethisphere is also the leading provider of independent verification of
corporate ethics and compliance programs that include: Ethics Inside®
Certification, Compliance Leader Verification(TM) and Anti-Corruption Program
Verification(TM). More information about Ethisphere can be found at:
Eastman Media Contact
Ethisphere Media Contact
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Eastman Chemical Company via Globenewswire
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