King Arthur now a benefit corp.

& NORWICH – The employee-owners of King Arthur Flour have voted to become a benefit corporation.

Vermont was the second state to pass legislation allowing companies to demonstrate higher standards of corporate purpose, accountability, and transparency. Benefit corporations are also recognized in Maryland, New York, New Jersey, Virginia, Hawaii, and California.

"King Arthur Flour is a 222-year-old company interested in preserving its mission and values into the next two centuries," said President Steve Voigt.

King Arthur Flour appointed Carol Atwood, current chairwoman of the board, to also serve as the benefit director. The position oversees the company's commitment to its corporate purpose and multiple stakeholders.

In becoming a benefit corporation, King Arthur Flour must adopt a corporate purpose of creating a material positive impact on society and the environment, and to require its directors to consider non-financial interests when making decisions.

Further confirming the company's commitment to these standards, King Arthur Flour has been named to the first Best for the World list as a business creating the most positive worker impact.

"King Arthur Flour is a leader in the global movement to redefine success in business," said Jay Coen Gilbert, cofounder of B Lab, the nonprofit organization that governs the B Impact Assessment and certifies B corporations.

The Best for the World lists appear in the 2012 B Corp Annual Report published by B Lab. For more information on benefit corporations, see benefitcorp.net.