McDonald's investors will consider the company's human rights research proposal after the federal government rejected McDonald's request to remove the proposal from its agenda at its annual general meeting.
The SOC Investment Group, a stakeholder advocacy group that supports union pension funds, has submitted a proposal to vote at McDonald's annual general meeting. The proposal, which is one of 10 listed on McDonald's representative list, calls on the McDonald's board to direct third-party audits that will analyze the company's rights record and make recommendations for improvements.
The SOC supported a similar proposal at Apple's annual meeting in March. Apple shareholders voted to favor a civil rights inquiry into the company's case against Cupertino, California.
McDonald's annual meeting is not yet planned but usually in May.
In its proposal, the SOC has identified more than 50 complaints and allegations of sexual harassment in the company's restaurants over the past six years. It also said that many cases against the company were opened by Black franchises and officials accusing the company of racism.
The SOC also accused the company of reporting various details in its U.S. stores. owned exclusively, even though 95% of their stores are owned and operated by merchants.
"We urge McDonald's to examine its behavior through the lens of human rights to get a complete picture of how it contributes to social and economic inequality," the SOC wrote in a representative statement.
In a letter sent in January to the U.S. Securities and Trade Commission, McDonald’s asked to remove the proposal from their representative statement because public reporting on their human rights record could damage their legal defense in many cases.
The Chicago-based company also noted its ongoing efforts to promote diversity, which includes a $ 250 million commitment to increase the number of traders from historically disadvantaged groups and the need for new anti-bullying training in its stores worldwide.
The company said it had also set a goal of gender equality in its leadership positions by the end of 2030.
But in a letter sent to McDonald's Corp. and to the SOC this week, the SEC rejected McDonald's application, saying the proposal went "further and further" into McDonald's legal affairs and should remain in the proxy statement.
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Courtesy Grizler.com
