Apple Investors Defy Company and Vote for Civil Rights Audits
Apple Inc. shareholders approved outside proposals recommending audits of the company’s civil-rights impact and a public report on its use of concealment clauses in employment agreements, marking a rare instance of investors defying the tech giant.
The votes were part of Apple’s annual shareholder meeting, held virtually on Friday for the second year in a row. Investors also reelected the company’s board and approved its executive compensation plan.
The proposal on civil-rights audits is part of a broader push to get corporations to track if, and how, they contribute to racial inequities. Shareholders at major U.S. companies, including Tyson Foods Inc., Citigroup Inc. and BlackRock Inc., have approved similar measures.
“Now it’s time for Apple to establish an honest third-party civil-rights audit of the company’s commitments to equality and fairness,” Dieter Waizenegger, executive director of the labor-backed firm SOC Investment Group, said in a statement after the meeting.
In opposing the measure, Apple argued that it already meets the objectives of the proposal. That includes conducting impact assessments and engaging with communities. The company described the audit recommended by the proposal as “broad and unfocused.”
“Civil rights is something we care deeply about and always have,” Chief Executive Officer Tim Cook said during the meeting.
The proposal on concealment clauses had a come-from-behind win. Apple initially said the measure failed, but when final vote totals were tallied, it prevailed by a narrow margin. That proposal aims to shed light on employments agreements that could bar workers from discussing unlawful acts, such as harassment and discrimination.
In arguing against the measure, Apple said its employees
Read more on tech.hindustantimes.com
