BIG DEVELOPMENT! New York City Retirement Systems cast vote AGAINST Wendy’s Board Chair Nelson Peltz; Leading proxy voting advisory service Glass Lewis recommends all Wendy’s shareholders do the same

TODAY farmworkers will be joined by NYC elected officials and shareholder advocates at a rally to hold Wendy’s board accountable for its failure to join the award-winning Fair Food Program and address the modern-day slavery crisis in North American agriculture

Support for the VOTE NO campaign, led by Investor Advocates for Social Justice (IASJ) and Majority Action, has grown tremendously in the run-up to Wendy’s annual meeting later this month.

Late yesterday, we learned about some big news from influential players in the financial community:

A vote AGAINST Nelson Peltz , as well as the other Wendy’s board members named by IASJ and Majority Action, cast by the New York Retirement Systems, which hold over $263 billion in assets (as of March 2022)
A recommendation by leading proxy voting advisory firm Glass Lewis that shareholders vote AGAINST Wendy’s Board Chair Nelson Peltz to hold him “accountable for the board’s inaction on this issue”
A recommendation by the AFL-CIO that investors make voting against Nelson Peltz a “key vote” priority for the 2022 proxy season

These votes are a massive escalation in the growing wave of support by major investors for a shareholder-led initiative urging votes against Wendy’s Board Chair (and Trian CEO) Nelson Peltz and three other Directors in light of Wendy’s failure to adequately respond to a 2021 majority vote shareholder resolution on the protection of workers in its food supply chain. The 2021 resolution was supported by over 95% of Wendy’s shareholders.

This afternoon in Midtown Manhattan, CIW farmworkers will be joined by New York City Comptroller Brad Lander, New York City Councilwoman Carmen de la Rosa, Manhattan Borough President Mark Levine, national shareholder advocates and area supporters for a major rally and street theater performance outside the offices of Trian Partners (280 Park Avenue), Wendy’s largest institutional shareholder.

Join us if you’re in New York City today!