Regal Rexnord Corporation (NYSE: RRX) 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.”
