Consumer
Mondelez Faces Mounting Pressure on Keeping Russian Unit
- Proxy adviser ISS supports review of human rights policy
- Adviser Glass Lewis doesn’t back proposal up for vote May 22
The Mondelez International headquarters in Chicago.
Photographer: Christopher Dilts/BloombergThis article is for subscribers only.
Institutional Shareholder Services Inc., an influential advisory firm, is supporting an investor proposal for an independent review of how well Mondelez International Inc. is implementing its human rights policy in Russia and Ukraine.
The proposal from Wespath Benefits and Investments says that the chocolate maker needs to increase disclosures so investors can better assess its performance on human rights in conflict zones, specifically naming Russia and Ukraine. Mondelez and Glass Lewis & Co., another proxy adviser, disagree. Investors will vote on the measure at the annual meeting on May 22.