Regal Rexnord Corporation Announces More Decentralized Approach To Corporate Charitable Giving
Regal Rexnord Corporation (NYSE: RRX) announced a shift in its corporate charitable giving strategy, moving towards a more decentralized model in 2021. Associates across four segments now take primary responsibility for selecting charities, with a focus on geographic diversity reflecting the communities where they live and work. CEO Louis Pinkham stated that these efforts aim to align with the company’s values and support international communities. This initiative marks a significant change from the previous, U.S.-centric approach.
- Decentralized charitable giving empowers associates in four segments to select charities.
- Focus on supporting international communities and first-time recipients of charitable contributions.
- None.
BELOIT, Wis., Dec. 14, 2021 /PRNewswire/ -- Regal Rexnord Corporation (NYSE: RRX) today announced changes the Company has made in its approach to corporate charitable giving. Beginning in 2021, decisions regarding the Company's charitable giving became more decentralized, with associates in the Company's four segments assuming primary responsibility for identifying, reviewing and selecting which charities to support. In addition, charitable giving selection criteria placed emphasis on the geographic diversity of communities in which the Company's associates live and work.
Commenting on the new approach, Regal Rexnord CEO, Louis Pinkham said "One of our Regal Rexnord values is Responsibility – Responsibility for the safety and professional development of our associates, Responsibility to the environment and manufacturing our products with environmental-friendliness in mind, and Responsibility to the communities where we live and work. One way Regal Rexnord contributes to our communities is through corporate charitable giving. I believe it's critical that these contributions are consistent with being a global enterprise, in addition to being aligned with our values, and to resonating with our diverse team of nearly 30,000 associates around the world. Our new approach to charitable giving, which has been phased in during the course of 2021, helps achieve these objectives. "
"I am excited to report that as 2021 draws to a close, Regal Rexnord is making charitable contributions to organizations – identified using input from our associates – that are heavily weighted to serving communities outside the U.S. Many of these organizations are first-time recipients of our giving. This is a welcome and notable contrast to the historic, more centralized, and also more U.S.-weighted approach."
About Regal Rexnord
Regal Rexnord Corporation is a global leader in the engineering and manufacturing of industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products and specialty electrical components and systems, serving customers around the world. Through longstanding technology leadership and an intentional focus on producing more energy-efficient products and systems, Regal Rexnord helps create a better tomorrow – for its customers and for the planet.
Regal Rexnord is comprised of four operating segments: Motion Control Solutions, Climate Solutions, Commercial Systems and Industrial Systems. Regal Rexnord is headquartered in Beloit, Wisconsin and has manufacturing, sales, and service facilities worldwide. For more information, visit RegalRexnord.com.
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SOURCE Regal Rexnord Corporation
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