Henry Schein, Inc. Earns Inaugural Higher Ambition Company of the Year Award
Company Recognized for Commitment to 'Doing Well by Doing Good'
LINCOLN, Mass., Oct. 5, 2018 /PRNewswire/ -- The Center for Higher Ambition Leadership (CHL) has awarded Henry Schein, Inc. (Nasdaq: HSIC) its inaugural Higher Ambition Company of the Year Award in recognition of the company's commitment to proving that business can be a force for good. The award was presented to Henry Schein's Chairman of the Board and CEO, Stanley M. Berman, at a CEO member dinner on Wednesday hosted by CHL in New York.
CHL is a growing community of purposeful leaders working together to advance the practice and performance of leaders with a higher ambition. CHL supports members in building leadership and organizational capabilities to sustainably deliver superior economic and social value.
The Company of the Year award will be presented annually to organizations that exemplify CHL's mission and demonstrate:
- a track record of delivering sustained value for their stakeholders;
- that higher ambition leadership and practices are core to their culture and demonstrated at every level; and
- leadership among peers and a commitment to creating and sharing practices that others can learn from and apply to their organizations and the greater good.
"In the competitive field of health care products and services distribution, Henry Schein stands out," said CHL Board Director Ed Ludwig. "Team Schein demonstrates higher ambition values and practices in every facet of their business. Most notably, they have an intense commitment to building strong, trust-based relationships with all of their stakeholder groups—from employees to customers to suppliers to the communities around them—all while delivering consistent financial results over the long term and much more," Ludwig continued.
With more than one million customers, more than 22,000 employees—known as Team Schein Members—and $12.5 billion in sales in 2017, Henry Schein is recognized for consistent, outstanding performance—and for "doing well by doing good."
Highlights:
- Market cap growth from approximately $300 million in 1995 to approximately $13.3 billion today, representing a CAGR of 18 percent.
- Named a FORTUNE® "World's Most Admired Company" for 17 consecutive years, one of the "World's Most Ethical Companies" by the Ethisphere Institute annually since 2012, and most recently to FORTUNE's "Change the World" list, an annual ranking of companies that are "doing well by doing good."
- Clear demonstration of the purpose and mission of Henry Schein across the organization at all levels.
- Committed leadership of a multitude of local and global social impact initiatives through Henry Schein Cares, the company's global corporate social responsibility program. Henry Schein Cares focuses on a range of priorities, including expanding access to care, promoting wellness and prevention, disaster preparedness and relief, capacity building, and environmental sustainability.
- Engagement of the company's team, supplier partners, and customers to participate in innovative public-private partnerships that create shared value for society and enhance access to health care for underserved and at-risk populations.
- Robust organizational leadership development training programs for Team Schein Members at all levels of the company and around the world.
- A founding member of the Center for Higher Ambition Leadership, consistently sharing higher ambition best practices with other members in many forums, including hosting a 2017 CHL Learning Visit in Indianapolis.
"It is truly an honor to accept this award on behalf of the more than 22,000 Team Schein Members in 34 countries around the world," Mr. Bergman said. "There is no question that the road to Henry Schein's long-term success over the past 86 years has been paved by our ability to develop deep, trust-based relationships with each of our five constituencies: Our Team, our Customers, our Supplier Partners, our Investors, and Society. This notion of 'doing well by doing good' really does work, and CHL has provided an exceptional community of like-minded companies to learn from and share our experiences with. We continue to be inspired by other CHL members, and especially by our collective ability to create shared value for our society and our world."
"We are pleased to honor Stanley Bergman and Henry Schein as a leader in the Higher Ambition movement," said Russ Eisenstat, Executive Director, Center for Higher Ambition Leadership. "Team Schein is at the forefront of a growing global movement of leaders committed to building great companies that sustainably deliver superior economic and social value. We hope Henry Schein's success will inspire others to raise their level of ambition for the positive contribution their companies can make."
Henry Schein's senior leadership is directly involved in the work of CHL, and they trace the Company's performance to the values and behaviors that CHL espouses among its members.
"Henry Schein's success directly reflects our commitment to serving the needs of all of our constituencies," said James Breslawski, President and Vice Chairman. "Each is as important as the next, and we strive to balance their interests as we pursue our goal of doing well by doing good."
"No organization can be successful without a strong culture, and we believe our unique Team Schein culture is essential to our success," said Gerald Benjamin, Executive Vice President and Chief Administrative Officer. "As a team, we are committed to each other in serving the larger cause of 'helping health happen'."
"Our shareholders understand that providing a solid return on their investment is a function of balancing the interests of our Mosaic of Success," said Steven Paladino, Executive Vice President and Chief Financial Officer. "By satisfying each constituency, we are best able to deliver the consistent performance that investors value."
"A balanced portion of our growth stems from the successful investments and acquisitions we have made the past twenty years, and each investment starts with culture," said Mark Mlotek, Executive Vice President and Chief Strategic Officer. "People are one of the most important assets in any organization. When we consider new investments, we begin by getting to know the people very well. This takes time, but it is time well spent because it makes for a more successful investment."
"As Stan likes to say, it's all about people and always about people," said Lorelei McGlynn, Senior Vice President and Chief Human Resources Officer. "Organizations that truly care for their people succeed in the long run, and that's one of the hallmarks of CHL's Higher Ambition Leadership Institute (HALI). I am fortunate to have completed the HALI program, and I am especially fortunate to be a Team Schein Member."
Also attending the award dinner from Henry Schein were HALI graduates Peter McCarthy, President, Global Animal Health Group, and Bob Minowitz, Senior Vice President, Global Dental Merchandising and Business Operations.
CEO members of CHL nominate organizations to be considered for Higher Ambition Leadership Company of the Year Award. The nominees are reviewed, and the winner selected by the CHL Board of Directors. Visit the CHL website (www.higherambition.org) to Read More about Henry's Schein's higher ambition practices.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 22,000 Team Schein Members serving more than 1 million customers globally, the Company is the world's largest provider of Business, Clinical, Technology, and Supply Chain solutions to enhance the efficiency of office-based dental, animal health, and medical practitioners. The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites.
A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein's network of trusted advisors provides health care professionals with the valued solutions they need to improve operational success and clinical outcomes. The Company offers customers exclusive, innovative products and solutions, including practice management software, e-commerce solutions, specialty and surgical products, as well as a broad range of financial services. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 34 countries. The Company's sales reached a record $12.5 billion in 2017, and have grown at a compound annual rate of approximately 15 percent since Henry Schein became a public company in 1995. For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, and @HenrySchein on Twitter.
About the Center for Higher Ambition Leadership
The Center for Higher Ambition Leadership (CHL) is a growing community of purposeful leaders working together to build higher performing organizations and a better world. As a non-profit organization, CHL members join forces to:
- Share and advance management practices that sustainably create superior economic and social value;
- Develop the next generation of purposeful leaders; and,
- Activate and inspire our stakeholders and the larger world in this work.
To learn more, visit: www.higherambition.org and follow CHL on LinkedIn or @HigherAmbition on Twitter.
SOURCE The Center for Higher Ambition Leadership
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