Consumer
Some Mondelez Shareholders Send Signal on Russian Business
- About a third of investors agreed with proposal from Wespath
- More disclosure sought on company’s business in conflict zones
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Roughly 30% of Mondelez International Inc. shareholders voted in favor of a proposal on the company’s human rights policy in Russia and Ukraine, sending a clear signal to management that investors want the snack maker to provide more clarity on its business practices in the warring countries.
The proposal didn’t pass, so the company isn’t required to fulfill the request. But the support passed a key threshold that can often get executives to take requests seriously, and it adds more scrutiny to Mondelez’s continued presence in Russia after the withdrawal of many other Western companies.