Shareholder proposals aimed at labor-related issues have more than tripled over the last year, bringing with them additional risks for boards and companies. The growing spotlight on labor could bring battles that unfold on proxies or in court — and a recent Delaware Chancery Court case could further the trend.
In 2022, shareholders across all public companies filed at least 29 proposals related to labor focusing on topics ranging from workers’ rights to diversity that appeared at annual meetings, according to data from public company intelligence provider MyLogIQ. The years 2021 and 2020 both only saw nine proposals, according to the same data.
Further, labor-related proposals that went to a vote received 32.8% support on average in 2022, according to the data. By contrast, support for all labor-related proposals for the four years prior was at 27.2%, the MyLogIQ data shows.
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