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World’s top money manager tells CEOs: Profits aren’t enough, do good for society

More than 1,000 CEOs around the globe received a letter on Tuesday from one of the world’s most influential money managers with a pointed message: Simply posting good financial returns is no longer enough. You must have a positive impact on society, too.

In his annual letter to CEOs, Laurence Fink, the chairman and CEO of BlackRock, which manages nearly $US6.3 trillion ($7.9 trillion) in investments, put CEOs on high alert that they would be expected to answer questions about their long-term strategy, what role they play in their communities and whether they are creating a diverse workforce that is being retrained for opportunities in a more automated future.

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