Gemline Reincorporates as Public Benefit Corporation
As a public benefit corporation, Gemline must include considerations of its social and environmental mission in its fiduciary responsibilities.
Gemline, a supplier in the promotional products industry, announced its reincorporation as a Massachusetts public benefit corporation (PBC).
As a public benefit corporation, Gemline’s board of directors is required to include considerations of the company’s social and environmental mission in its fiduciary responsibilities.
According to Gemline, this change reinforces its belief that profitability and positive social and environmental impact are not mutually exclusive, but rather complementary goals of the corporation.
“With this pivotal shift, Gemline reaffirms its dedication to leading by example in the promotional products industry and within its community, ensuring that its commitment to responsible business practices and generating social impact through its operations, is deeply ingrained in its corporate structure,” stated the company.
This milestone also comes on the heels of Gemline’s recent announcement of its purpose statement, “We promote community,” and underscores Gemline’s unwavering commitment to its corporate social responsibility program, Betterway, which is dedicated to making a meaningful difference by positively impacting people, the planet, and products.
“Gemline’s commitment to social responsibility has been a consistent priority of our company and me,” stated Jonathan Isaacson, executive chair at Gemline. “Formalizing this commitment as a public benefit corporation aligns with the ethos that has guided both myself and the board for many years.”
“We are proud to join the growing community of public benefit corporations that are driving positive change in the business world,” said Frank Carpenito, president and CEO of Gemline. “By embracing this new legal structure, Gemline reaffirms its commitment to being a force for good and setting a higher standard for corporate responsibility.”
Gemline invites all of its valued stakeholders to join in celebrating this milestone and to continue supporting its efforts to build a more sustainable and responsible future for generations to come.
For more information about Gemline and its corporate social responsibility program, Betterway, please visit its corporate social responsibility page.
