Media Recognition · April 2, 2022

LEADERS Magazine Features Foremost Group Founder and Honorary Chairman Dr. James S. C. Chao

NEW YORK, NY – April 2, 2022 – Foremost Group Founder and Honorary Chairman Dr. James S. C. Chao was recently featured in LEADERS Magazine as a part of its series profiling Purpose driven leaders. In the profile, Dr. Chao discusses Foremost Group, including the Company’s history and culture, as well as the Chao family’s approach to philanthropy. Excerpts from the interview are below, with the full profile of Dr. Chao available online here.

On Foremost Group’s culture, Dr. Chao says: “We did not set out to create a corporate culture first, and then follow it. Rather, our culture evolved organically from the ground up. It was built around the spirit of Foremost and the values it practices every day: honesty, integrity and service. Foremost provides a service that is essential for the global economy: shipping the world’s major dry bulk commodities like wheat, grain, iron ore and other basic necessities around the world. From a larger point of view, it’s not just about us. If we do our jobs well, people can have the food they need to live and grow, and the basic materials they need to build economies, create jobs and generate prosperity for all. At its core, Foremost works for the public good.”

On Foremost Group’s industry leadership, Dr. Chao comments: “To become and remain a leader in such a demanding environment, Foremost Group is committed to providing consistent, exceptional service and performance. In addition, we are known for taking good care of our crews and, as a result, they are always there for us. We are also known for our ability to adapt quickly to unforeseen challenges and global market changes. Beyond these basics, there are some very important, fundamental differences between Foremost and other companies. First, and most importantly, is our emphasis on integrity – and I really mean that: it’s our most precious asset. Foremost would rather not earn a profit, or earn less profit, than lose its integrity. This is not altruism; it’s an important long-term advantage. Money can be earned any time, but a company cannot be profitable permanently or enjoy good relationships with its customers and earn repeat business unless it has integrity. At a time when so many companies and institutions are losing the public’s trust, the value of having a reputation for integrity cannot be overstated.”

On the Chao family’s approach to philanthropy, Dr. Chao says: “My family – and this includes our Foremost family – takes great joy in promoting philanthropy, especially with educational opportunities. This is only natural because of the key role education has played in my own life, in the life of my late wife, Ruth Mulan Chu Chao, and in the lives of our six daughters. The goal of our philanthropy is to help cultivate the next generation of global leaders by giving talented young people access to a high-quality education that they could not otherwise afford.”

The full LEADERS Magazine issue for April, May & June 2022 is available here: https://www.leadersmag.com/issues/2022.2_Apr/toc20222.html

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