Trillium Files Resolution at Travelers Companies
October 24, 2016 // Boston, MA – Trillium Asset Management filed a shareholder resolution with insurance company, Travelers Companies (NYSE: TRV), asking it to disclose information on workforce data and results of diversity policies and programs.
Recent research by McKinsey & Company shows that companies with diversity programs in place have an advantage in competing for the best talent.[1] Currently, Travelers Companies does not disclose workforce data or results of its diversity initiatives, leaving shareholders with “insufficient information to determine if Travelers Companies has a diverse workforce or has been successful in expanding diversity into senior roles.”
Trillium requests that Travelers Companies prepare a diversity report available to investors including:
- “A chart identifying employees according to gender and race in major EEOC-defined job categories, listing numbers or percentages in each category;
- A description of policies/programs focused on increasing gender and racial diversity in the workplace.”
Trillium utilizes shareholder advocacy as a way to have a positive impact on company policies, practices and performance and encourage companies to take social actions that are consistent with shareholder and company interests. A recent article published by Bloomberg News referenced a shareholder resolution filed by Trillium with Visa Inc. urging the company to address its disclosure of EEOC data and commitment to expanding gender and racial diversity in the workplace.
For more information: Brianna Murphy, Trillium Asset Management, bmurphy@trilliuminvest.com
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The information provided is not a recommendation to buy or sell the securities mentioned. The securities were selected on an objective basis for illustrative purposes and do not represent all of the securities purchased, sold or recommended. It should not be assumed that investments in the securities has been or will be profitable.
[1] http://www.mckinsey.com/business-functions/organization/our-insights/why-diversity-matters
