Zimmer Biomet – Product Safety & Quality (2017)
According to Zimmer Biomet’s Code of Business Conduct and Ethics, “Zimmer Biomet is committed to protecting the health and safety of its Customers, Team Members, the public and the environment” and “we have adopted and implemented regulatory compliant systems and processes to ensure the highest standards of quality and safety.” Product safety and quality issues present an area of high risk for Zimmer Biomet. Because its business is focused on orthopedic, prosthetic, and surgical appliances and supplies, and high production volumes, Zimmer Biomet is particularly exposed to regulatory, reputational, and recall related financial risks. Most companies in the medical device …
Merck – Product Safety & Quality (2017)
According to Merck’s Code of Conduct, “We are committed to meeting or exceeding customer and regulatory requirements regarding the research, development, manufacturing, packaging, testing, supplying and marketing of our products. Quality means consistently satisfying requirements and expectations by delivering products and services of the highest value in a timely manner.” Product safety and quality issues present an area of high risk for Merck. Because its business is concentrated on pharmaceuticals and high production volumes, Merck is exposed to litigation, regulatory, reputational, and recall related financial risks. Merck received a warning letter in 2016, a Form 483 in 2015, and six …
BlackRock – Proxy Voting (2017)
BlackRock’s Equal Employment Opportunity (EEO) policy explicitly prohibits discrimination based on sexual orientation and gender identity – to protect lesbian, gay, bisexual, and transgender (LGBT) employees that are not otherwise protected under federal and state laws. The company has earned a perfect score on the Human Rights Campaign corporate equality index, and internally offers an employee resource group to engage and support LGBT employees in promoting an inclusive environment. BlackRock states: “Inclusion and diversity are key to our success. By fully leveraging our diverse experiences, backgrounds and insights, we can inspire innovation, challenge the status quo and create better outcomes …
Stifel Financial – Board Diversity (2016)
WHEREAS: Stifel Financial does not have any women on its Board of Directors. We believe that diversity, inclusive of gender and race, is a critical attribute of a well-functioning board and a measure of sound corporate governance. Stifel Financial states that it “nurtures a culture that values the diversity of its work force”. Yet, the company noticeably lags its peers on board diversity. Raymond James Financial, Charles Schwab and Piper Jaffray each have two women directors on their boards. Greenhill & Co. has one woman on its board. Ninety-two percent of S&P 500 boards include at least one woman; the …
Union Pacific – Board Diversity – 2016
WHEREAS: Union Pacific has one woman on its Board of Directors. We believe that diversity, inclusive of gender and race, is a critical attribute of a well-functioning board and a measure of sound corporate governance. Research confirms the strong business case for diversity on corporate boards. For example, several studies suggest a critical mass of at least three women directors strengthens corporate governance. The August 2012 Credit-Suisse Research Report Gender Diversity and Corporate Performance links board diversity to better stock market and financial performance (higher return on equity, lower leverage and higher price/book ratios). It suggests several explanations for this …
Discovery Communications – Board Diversity – 2016
WHEREAS: Discovery Communications does not have any women on its Board of Directors. Yet, in 2012, Discovery Communications amended its Corporate Governance Guidelines to include a commitment to diversity inclusive of gender, race, and ethnicity in its nomination criteria. We believe that diversity, inclusive of gender and race, is a critical attribute of a well-functioning board and a measure of sound corporate governance. Research confirms the strong business case for diversity on corporate boards. For example, the August 2012 Credit-Suisse Research Report Gender Diversity and Corporate Performance links board diversity to better stock market and financial performance (higher return on …
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