shareholder proposal (14a-8) · 2021
Franciscan Sisters of Allegany, NY at Wendy's
Report on evidence of how Wendy's protects the human rights of workers in its food supply chain, including from COVID-19 risk, in the context of calls to join the Fair Food Program.
What happened
Result: Approved at the May 18, 2021 annual meeting. The certified count was 151,174,213 votes for and 7,474,784 against, with 1,612,292 abstentions and 22,521,497 broker non-votes, which is 95.3 percent of the votes cast for and against. Wendy's had asked the SEC for no-action relief to leave the proposal off the ballot, did not get it, and then recommended that shareholders vote for it.
Wendy's published a report in December 2021 that the proponents called fundamentally non-responsive to what the proposal asked for, and did not engage with them on its content before publishing. As of the March 2022 investor advisory the company had still not joined the Fair Food Program, alone among its major competitors.
Who is involved
- Franciscan Sisters of Allegany, NY filer
- Investor Advocates for Social Justice (spearheaded effort) co-filer
- ICCR co-filer
- Coalition of Immokalee Workers co-filer
- a coalition of six U.S. state treasurers co-filer
- over 100 investors representing $1 trillion in assets co-filer
- The Wendy's Company company
What this campaign is about
- No slavery, servitude, or slave trade Pivotal · Universal Declaration of Human Rights
- Freedom of movement and residence; the right to leave and return to a country Necessary · Universal Declaration of Human Rights