Consumer
Oreo-Maker Mondelez Turns to New SEC Guidance to Quiet Call for Russia Transparency
The company had pledged to isolate its Russia business as a standalone operation following that country’s invasion of Ukraine in 2022.
Photographer: Robyn Beck/AFP/Getty ImagesThis article is for subscribers only.
Mondelez International Inc. is asking regulators for permission to ignore a shareholder proposal that calls for greater transparency on the Oreo maker’s Russian operations.
The snack company is looking to exclude a resolution from Wespath Institutional Investments LLC from the agenda of its next shareholder meeting, according to a letter to the Securities and Exchange Commission. Shareholders including Wespath argue that Mondelez has a responsibility to show investors how it’s conducting business in Russia and Ukraine in a way that protects human rights and are calling for a third-party assessment.