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Nike shareholders rejected a transparency proposal at the company's September 8 annual meeting, with the resolution drawing less than 1% of votes cast per a September 10 SEC filing.
Inspire Investing, the faith-based firm that backed the proposal, is raising questions about the business cost of Nike's charitable partnerships at the same moment the company's market capitalization sits more than $200 billion below its November 2021 peak and its removal from the S&P 100 is days away.
Proposal 5, filed by Inspire on behalf of shareholder William C.
Cunningham, asked Nike to publish an analysis of the "benefits, costs, and legal, reputational, competitive, and other relevant risks" tied to its charitable giving.
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