Sleep products supplier Malouf, headquartered in Logan, Utah, announced it has earned certification as a B Corporation or Benefit Corporation from certifier B Lab, a nonprofit organization based in Berwyn, Pennsylvania.
According to the B Lab website, “B Corporations are businesses that are legally required to consider the impact of their decisions on their workers, customers, community and environment. … (They) meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose.”
Chief Executive Officer Sam Malouf said, “Sustainability is important to us and giving back to the community is a key part of our culture. We care about our customers, we care about the environment and we care about our community. When considering these values, becoming a benefit corporation was a natural next step for our company — one that will promote substantial growth moving forward.”
The Utah company has won several workplace and employer awards, and has pursued sustainability goals at its facilities since its founding. It also donates a portion of sales to the Malouf Foundation, established in 2016 to lead the bedding and home furnishings industry in the fight against child sexual exploitation.
Marketing manager Scott Carr said the certification aligns Malouf with the new mission statement from Business Roundtable. The public policy group composed of 181 leading CEO’s proclaimed in August that corporations must shift their purpose away from focusing solely on returning value to shareholders, and toward helping to promote an economy that serves all Americans.
“We are excited to join this movement!” Carr said.