Majority Action, Investor Advocates for Social Justice issue press release announcing new initiative to urge Wendy’s shareholders to vote against Board Chair Nelson Peltz and three other Directors:
“Shareholder advocates are alarmed by the lack of independent oversight on Wendy’s board of directors given the overwhelming influence of Nelson Peltz’s Trian Partners…”
Eli Kasargod-Staub, Majority Action: “Long-term investors expect boards to respond comprehensively to shareholder proposals receiving majority votes. We urge shareholders to hold Wendy’s board leadership accountable for these lapses in responsible governance.”
Gina Falada, IASJ: “The Board is putting the Company, its investors, and farmworkers at risk by relying on insufficient supply chain monitoring practices. Joining the Coalition of Immokalee Workers’ award-winning Fair Food Program is the clear solution for Wendy’s, yet the Board, heavily influenced by Trian Partners, persists in failing to join all Wendy’s major peers in the Program. The time is now for shareholders to demand boardroom accountability at Wendy’s.”
Lupe Gonzalo, CIW: “Human rights abuses have riddled the industry for far too long, and that is exactly why we built the Fair Food Program: to reclaim our dignity. For over eight years, despite repeated calls from farmworkers and our allies alike – including some of the country’s largest institutional investors – Wendy’s has failed to join all its major competitors in the Program. With the alarming rise in federally-prosecuted modern slavery cases, that decision is more unconscionable now than ever.”
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On Monday, two widely-respected shareholder advocacy organizations — Majority Action and Investor Advocates for Social Justice — issued a press release outlining shareholders’ reasoning for taking the extraordinary action of calling for board accountability at Wendy’s by urging votes against Board Chair Nelson Peltz, Senior Vice Chairman Peter May, and Vice Chairman Matthew Peltz, and Director and former Trian Partners associate Peter Rothschild at Wendy’s upcoming shareholder meeting on May 18.
