Jim Cramer at CNBC pointed out the irony that ExxonMobil, a major carbon contributor as an oil and gas company is being replaced by Salesforce in the Dow Jones Industrials Index. Salesforce is a major supporter of the WEF's 1T.org initiative to plant a trillion trees by 2030 to offset the effects of climate change.
The official communication said it was related more to Apple's recent stock split and the need to add more tech to the index. However, to me it is another example of CEO Marc Benioff willing to take positions where most other corporate executives fear to tread - on diversity, homelessness in San Francisco and so many other causes - and increasingly being recognized for it. I have been impressed how many other executives mention Marc as an inspiration in the "acrobatics during the crisis" Zoom series I have been running. They have been doing so, unsolicited.
Of course, it is not just his leadership around "purpose". Salesforce has deftly pivoted its product mix during the pandemic. I could see it in the interview I did with Neeracha Taychakhoonavudh, EVP, Industries in May. She was talking about Salesforce's work helping various verticals including public health officials and with partner nCino helping community banks process thousands of PPP loans
The Work.com launch has been brilliant. One executive after another has told me site re-open protocols are turning out to be much more complex than lockdown processes - which themselves were not easy as thousands were being moved to WFH. Schools, college campuses, sports teams, amusement parks are facing even more urgent and complex reopening scenarios.
As part of my recent interview with Tony Prophet, the Chief Equality Officer I wrote "Salesforce is a company which elevates equality as a core value and has been widely recognized as a company which is leading conversations on moving to a broader stakeholder, not just shareholder, focus. Given how well it has done for shareholders, the stakeholder goals are even more ambitious and Tony is clearly a key player in that effort and as he advises "aim high".
I know of customers who think Salesforce tries to be "woke" and support too many social causes. Well, after their product and financial performance (they just reported a blowout quarter) during the pandemic, I say - if they can walk the tightrope, let's just watch in awe.
