Wegmans Food Markets, Inc. Named to Ethisphere's 2011 'World's Most Ethical Companies' List

ROCHESTER, NY - Wegmans Food Markets, Inc. has once again been recognized by the Ethisphere Institute as one of the 2011 World's Most Ethical Companies. Out of a record number of nominations for the award, Wegmans secured a hard-earned spot on the list by going the extra mile and implementing upright business practices and initiatives that are instrumental to the company's success, benefit the community, and raise the bar for ethical standards within the industry.  

"What is so special about this recognition is that it shines a light on the importance of our values:  caring, respect, high standards, empowerment, and making a difference in the community," says CEO Danny Wegman.  

This is the fifth year Ethisphere, a think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, has published the WME rankings, which appear in Ethisphere Magazine's Q1 issue. Wegmans was previously included in the 2007 and 2010 WME rankings.  

Ethisphere reviewed thousands of companies and evaluated a record number of applications utilizing its propriety methodology through in-depth research and multi-step analysis, naming 110 companies that surpassed their industry peers to this year's World's Most Ethical Companies list. The 2011 list features companies in 38 industries including 43 companies headquartered outside the United States.  

A sampling of other winners includes American Express, eBay, Ford Motor Company, Adidas, Starbucks, PepsiCo and Xerox Corporation.   

"As companies strive to maintain a competitive advantage, good ethics translate into better business, and better business means better bottom lines.  Wegmans recognizes the important role that principled practices play in brand reputation, which ultimately is the most valuable asset for a corporation," said Alex Brigham, Executive Director of the Ethisphere Institute. "Each year, the competition gets more intense for the World's Most Ethical Companies and this year was no exception with a record number of organizations vying for this distinguished honor.  Ethisphere congratulates Wegmans on being one of the World's Most Ethical Companies for 2011."  

The methodology for the WME ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.