Ethisphere Names Lincoln Electric as One of the 2024 World's Most Ethical Companies® for the Sixth Time

Rhea-AI Summary

Lincoln Electric Holdings Inc. (LECO) has been recognized as one of the 2024 World’s Most Ethical Companies® by Ethisphere for the sixth time, showcasing their commitment to business integrity. The company's President and CEO, Steven B. Hedlund, emphasized the importance of integrity and ethics in their operations, aiming to build a better world. The recognition highlights Lincoln Electric's dedication to ethics, compliance, and governance practices, outperforming global companies by 12.3 percentage points from 2019 to 2024.

Annual recognition highlights organizations that have demonstrated a commitment to business integrity through robust ethics, compliance, and governance programs

CLEVELAND, March 04, 2024 (GLOBE NEWSWIRE) -- Lincoln Electric Holdings Inc., (NASDAQ: LECO) has received the 2024 World’s Most Ethical Companies^® recognition by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. 

Lincoln Electric has been recognized six times and is one of only 10 honorees in the Industrial Manufacturing category. In 2024, 136 honorees were recognized spanning 20 countries and 44 industries. 

“We are honored to be recognized by Ethisphere for the sixth time for how we actively nurture a culture where integrity and ethics are the foundation of everything we do,” said Steven B. Hedlund, Lincoln Electric’s President and Chief Executive Officer. “As a trusted brand for nearly 130-years, we recognize the need to hold ourselves to a higher standard to help our customers and stakeholders build a better world.”

“It’s always inspiring to recognize the World’s Most Ethical Companies^®. Through the rigorous review process, we see the dedication of these organizations to continually improving their ethics, compliance, and governance practices to the benefit of all stakeholders,” said Erica Salmon Byrne, Ethisphere’s Chief Strategy Officer and Executive Chair. “Companies that elevate best-in-class cultures of ethics and integrity set a standard for corporate citizenship for their peers and competitors to follow.

Congratulations to Lincoln Electric for achieving this honor and demonstrating that strong ethics is good business.”

The listed 2024 World’s Most Ethical Companies® Honorees outperformed a comparable index of global companies by 12.3 percentage points from January 2019 to January 2024.

The World's Most Ethical Companies assessment is grounded in Ethisphere's proprietary Ethics Quotient^®, an extensive questionnaire that requires companies to provide over 240 different proof points on their culture of ethics; environmental, social, and governance (ESG) practices; ethics and compliance program; diversity, equity, & inclusion; and initiatives that support a strong value chain. That data undergoes further qualitative analysis by Ethisphere’s panel of experts who spend thousands of hours vetting and evaluating each year's group of applicants. This process serves as an operating framework to capture and codify truly best-in-class ethics and compliance practices from organizations across industries and from around the world.

About Lincoln Electric

Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers’ fabrication capabilities to help them build a better world. Headquartered in Cleveland, Ohio, Lincoln operates 71 manufacturing and automation system integration locations across 21 countries and maintains a worldwide network of distributors and sales offices serving customers in over 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at https://www.lincolnelectric.com.

Contact

Amanda Butler
Vice President, Investor Relations & Communications
Tel: 216.383.2534
Email: Amanda_Butler@lincolnelectric.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4f1050f4-96df-450c-adb2-f04efd22c317

FAQ

How many times has Lincoln Electric Holdings Inc. (LECO) been recognized as one of the World’s Most Ethical Companies®?

Lincoln Electric has been recognized six times as one of the World’s Most Ethical Companies®.

Who is the President and Chief Executive Officer of Lincoln Electric Holdings Inc. (LECO)?

Steven B. Hedlund is the President and Chief Executive Officer of Lincoln Electric Holdings Inc.

How many honorees were recognized in the 2024 World’s Most Ethical Companies® list?

In 2024, 136 honorees were recognized in the World’s Most Ethical Companies® list.

By how many percentage points did the listed 2024 World’s Most Ethical Companies® outperform a comparable index of global companies?

The listed 2024 World’s Most Ethical Companies® outperformed a comparable index of global companies by 12.3 percentage points.

What is the basis of the World's Most Ethical Companies assessment by Ethisphere?

The World's Most Ethical Companies assessment by Ethisphere is based on the Ethics Quotient®, requiring companies to provide over 240 proof points on their culture of ethics, ESG practices, ethics and compliance program, diversity, equity, & inclusion, and value chain initiatives.