Cabot Corporation (NYSE: CBT) announced that its president and CEO, Patrick Prevost, was recently selected as one of five winners of the 2013 “Responsible CEO of the Year” award, which is presented annually by Corporate Responsibility Magazine.
The annual awards are presented to CEOs across industries that visibly exceed standards in the areas of employee relations, environmental impact, human rights, philanthropy, and corporate responsibility practices.
“I firmly believe that responsibility goes beyond just our own manufacturing operations. At Cabot, we approach our social responsibility initiatives with a collaborative mindset and focus on product innovation, process safety, environmental excellence, operational efficiency, and more to help drive us toward a more sustainable future,” said Prevost. “I am honored by this recognition, which ultimately speaks to Cabot’s increasing commitment to corporate responsibility and the hard work of our employees around the globe.”
Cabot continues to increase its transparency as evidenced by its long-term greenhouse gas emissions targets, participation in the Carbon Disclosure Project, and the upcoming release of its Global Reporting Initiative™ certified sustainability report.
Since joining the company in 2008, Prevost has been focused on further increasing the company’s commitment to sustainability. Since then, Cabot has made significant process improvements and investments to its own manufacturing operations, and has introduced new products and technologies to help its customers be successful. With the acquisition of Norit in 2012, Prevost sought to reshape Cabot’s product portfolio in a way that would allow the company to more powerfully participate in future sustainability-related growth. The acquisition enhances Cabot’s portfolio with diversification into purification products and solutions to serve the world’s rapidly growing need for clean air and water.
In determining the winners, judges considered several dimensions of the aforementioned standards including: the scope of the CEO’s impact on their organization and community, the extent to which the CEO drove this initiative, and the individual reputation or professional risk taken by the CEO.
“In a business landscape where transparency, sincerity and social impact are ever important business goals, we are pleased to shine a spotlight on a group of individuals and their organizations which exude a commitment to their stakeholders and society,” said Elliot Clark, CEO of SharedXpertise, the publisher of Corporate Responsibility Magazine. “This recognition is a true reflection of the way these organizations conduct business every day.”
The 2013 award winners will be honored at CR Magazine’s Responsible CEO of the Year Awards Dinner taking place at the COMMIT!Forum, Wednesday October 9th at the New York Marriott Downtown in New York City from 6:00-8:30pm.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, aerogel, and elastomer composites. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.
About CR Magazine
CR Magazine is the voice of the corporate responsibility profession covering case studies, best practices, and trends in the 5 primary segments of the CR profession: a) Governance, risk, compliance, b) Environmental sustainability c) Corporate social responsibility, d) Philanthropy, and e) Workforce/diversity. www.thecro.com
About the COMMIT!Forum
The COMMIT!Forum, calls on people to make commitments that will change the world. How? By inspiring, educating, and engaging them in ways that prepare them to make the commitments necessary to change themselves and their organizations. The path to COMMIT, which began on April 11th at the New York Stock Exchange with the announcement of CR Magazine’s 14th Annual 100 Best Corporate Citizens, culminates October 8-9 in New York City at the Forum and continues well beyond through commitments people make there. www.commitforum.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot’s business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K.
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