|Pilgrim’s Pride Corporation||2020||N/A||https://us.dimensional.com/about-us/investment-stewardship|
The portfolio company recognized human capital management, including worker safety, and supply chain management as material risks in its annual report. SASB has also identified that workforce health and safety is a material risk for companies in the meat production industry. Dimensional’s research showed this portfolio company had a long history of controversies related to human rights, including numerous OSHA citations and a recent worker fatality.
The portfolio company did not disclose board or management oversight of risks related to human or labor rights. Additionally, the company had failed to act upon a similar proposal in the prior year, which ultimately received the support of the majority of independent shareholders.
Given the severity of the portfolio company’s recent human rights issues, Dimensional engaged with the company to discuss this shareholder proposal and the company’s handling of human rights risks.
- Human Rights Report Shareholder Proposal
Dimensional considered recent health/safety incidents, current portfolio company efforts, lack of board oversight, and responsiveness to shareholders. In light of the company’s history of worker health and safety controversies, the lack of board and management oversight of the issue, and lack of responsiveness to shareholder concerns on these topics, Dimensional supported the proposal.