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Three of nine companies facing upcoming investor votes on median pay gap data this proxy season commit to disclosure. Disney fails to block investors from voting on matter.
On the eve of Apple’s annual shareholder meeting where Apple’s board is opposing Arjuna Capital’s racial and gender pay equity shareholder proposalinvestors applaud Chipotle, Home Depot, and Target for proactively responding to similar shareholder proposals. After successful dialogs, investors have now withdrawn proposals from the ballots of all three companies after they agreed to disclose median pay gap data in 2022.
In the last year, Apple has received significant attention due to employee allegations of pay discrimination and secrecy. An employee-activist group, #Appletoo, was created in the fall to voice concerns of pay gaps, sexism, and racism within the company. Despite These concerns, Apple has opposed investment management firm Arjuna Capital’s request to provide greater transparency into its pay equity efforts by disclosing median racial and gender pay gaps.
In addition to the Apple vote tomorrowshareholders will have another opportunity to vote on the proposal at Disney’s annual meeting on March 9. Disney was unsuccessful in its appeal to the Securities and Exchange Commission (SEC), which attempted to block the proposal from going to a vote of investors. The resolution was filed at Disney as the company has faced allegations of rampant gender pay discrimination for the last three years. Despite employees’ and shareholders’ concerns, Disney has recommended a vote against the proposal.
Arjuna Capital is the lead filer of six shareholder proposals (Apple, Chipotle, Home Depot, Amazon, Lowe’s, and Disney) in the 2022 proxy season requesting median race and gender pay disclosures, …
Full story available on Benzinga.com
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