Wendy's proposal to disclose vulnerabilities of supply chain workers received majority support
Shareholders Calling for Human Rights Protections for Essential Food Chain Workers Prevail at Wendy's Annual Meeting
Shareholder proposal emphasized vulnerability of farmworkers in Wendy’s ($WEN) supply chain to COVID-19 and its failure to join the Fair Food Program…
[S]hareholders approved a proposal at Wendy’s asking the company to disclose evidence of whether its existing policies effectively protect workers in its food supply chain from human rights violations, including harms from COVID-19 – as well as whether Wendy’s mandates Covid-19 safety protocols for these workers.
The proposal emphasized that the Presidential Medal-winning Fair Food Program (FFP), which investors have urged Wendy’s to join, has effectively addressed these risks for participating companies through its industry-leading standards, monitoring mechanisms, and unparalleled record of enforcement. All of Wendy’s major peers, including Burger King ($QSR) and McDonald’s ($MCD) currently participate in the Program.
Investors are encouraged that the proposal was approved, and believe this will send a signal to Wendy’s that it must join the gold standard Fair Food Program. The vote comes on the heels of two letters sent to the company last month – one from over 100 investors representing $1 trillion in assets, the other from a coalition of six U.S. state treasurers – demanding that Wendy’s “join the FFP because it is uniquely effective for risk mitigation and compliance in the agricultural industry”…