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Fast Company

If you want to change Facebook, you have to change Zuckerberg

By Mark Sullivan
May 31, 2019

“At Facebook’s annual shareholder meeting, a shareholder stepped up to the microphone and asked Mark Zuckerberg if he’d be willing to cede some of his power in the organization, perhaps by stepping down as CEO or chairman of the board. Zuckerberg holds both those positions now. He also holds 60% voting power on any issue as well as full veto power.

….

There are some good reasons to remove Zuckerberg as CEO or board chair, or to limit his voting power. Beyond his 57.7% of voting shares, Zuckerberg holds too much power over the company, say two groups calling for an executive shake-up, Majority Action and Color of Change. They point to recent departures by the company’s chief product officer and the executives of WhatsApp and Instagram, and the newest nomination to its nine-person board of directors, Peggy Alford, who comes from an executive position at his social cause-focused Chan Zuckerberg Initiative.”


Bloomberg

Facebook Shareholders Challenged Zuckerberg and Left Empty-Handed

May 30, 2019
By Kurt Wagner

“The unhappiness that has been growing among Facebook Inc. shareholders for much of the past two years was on full display Thursday at the company’s annual shareholder meeting.

….

The vote tallies haven’t yet been made public, but all it took was for Zuckerberg to vote against these proposals to ensure they failed.

“The cascading series of failures over the last several years -- at their root they are from the company’s irresponsible governance structure,” said Eli Kasargod-Staub, who was also in the room representing Majority Action, a nonprofit group focused on supporting corporate shareholders. “We have zero confidence that these issues are going to resolve favorably.”

A year of public scandals for Facebook has taken a toll on the shares as well. The stock is down 2.5% in the past 12 months, compared with a 2.4% gain in the S&P 500. But Facebook may be starting to move beyond the bad headlines. So far this year, the shares are up 40%, far outpacing the 11% gain in the S&P and other tech peers like Alphabet Inc.and Twitter Inc.


The Hill

Activists project 'Fire Zuckerberg' onto Facebook shareholder meeting

May 30, 2019
Emily Birnbaum

“When Facebook shareholders arrived to their hotel in Palo Alto, Calif., on Wednesday night, they were met with an angry message aimed at founder and CEO Mark Zuckerberg.

….

Digital civil rights group Color of Change and Majority Action, a corporate accountability organization, have been urging Facebook shareholders to withhold their support for nominating Zuckerberg to the head of the board on Thursday.

The activist groups have been asking BlackRock, Facebook's second largest institutional shareholder, to withhold its support for Zuckerberg. A petition from the groups calling on BlackRock to vote "no" on Zuckerberg has garnered more than 125,000 signatures.

They have also sponsored a proposal for Facebook to begin exploring breaking itself apart.”


The Mercury News

Facebook shareholders fail to rein in Mark Zuckerberg

By Levi Sumagaysay
May 30, 2019

“As expected, shareholder efforts to rein in Mark Zuckerberg and company failed at Facebook’s annual meeting, where a plane carrying a banner that read “Break up Facebook, Save Silicon Valley” flew over Hotel Nia in Menlo Park on Thursday morning.

The night before, as shareholders arrived, they were greeted by a “Fire Zuck” projection on one side of the hotel.

….

“We’re comfortable with our current operating arrangements,” lead independent director Sue Desmond-Hellman said Thursday in response to a question from Eli Kasargod-Staub, of shareholder advocacy group Majority Action, about whether she would be willing to call a meeting to elect a new board chair.

In an interview after the meeting, Kasargod-Staub said, “Her response is indicative of an abdication of responsibility by Facebook’s independent directors, and exemplifies the kind of irresponsible governance the company has demonstrated so far.”

The meeting’s audio was webcast, but the meeting itself was open only to shareholders. Kasargod-Staub described the mood among shareholders as “incredulous.”


Reuters

Inflatable angry emoji looms over Facebook annual meeting as users vent frustrations

By Katie Paul, Ross Kerber
May 30, 2019

“MENLO PARK, Calif./BOSTON (Reuters) - Protesters carrying an inflatable angry emoji greeted Facebook Inc shareholders as they gathered for the company’s annual meeting on Thursday, the latest sign of its struggle to shake off privacy scandals and rein in fake news and hate speech.

….

The coalition, led by consumer group Majority Action and civil rights advocate Color of Change, said they had gathered 125,000 signatures on a petition targeting BlackRock Inc, one of Facebook’s biggest outside investors.

BlackRock’s funds backed all of Facebook’s director nominees last year, but also voted for two shareholder proposals that would have reorganized Facebook’s governance structure.”

The Hill

Facebook shareholders vote down proposals to limit Zuckerberg's power

By Emily Birnbaum
May 30, 2019

“Facebook shareholders on Thursday voted down a series of proposals that would have limited CEO Mark Zuckerberg's power, following a contentious meeting marked by pointed criticism of the company's top brass.

….

Eli Kasargod-Staub, the executive director of Majority Action, a corporate accountability group, told The Hill that shareholders in the meeting were "incredulous" over statements from Facebook executives indicating they support the company's current structure.

"Shareholders in the room, I really believe, were pretty incredulous at the idea that the existing team and governance structure that got everybody into this mess ... is going to be able to get us out," Kasargod-Staub said.

Activists have rallied around proposals to curtail Zuckerberg's power amid the barrage of privacy and civil rights scandals that have plagued the company in recent years. Regulators and lawmakers around the world have been cracking down on Facebook, accusing the tech giant of enabling genocide in Myanmar, allowing hate speech to fester and spread unabated, invading users' privacy and doing too little to stave off disinformation campaigns from foreign actors.”


Fortune

Angry Facebook Shareholders Fail to Dislodge Mark Zuckerberg as Chairman

By Danielle Abril
May 30, 2019

Facebook CEO Mark Zuckerberg will remain as chairman after a shareholder vote to curtail his power failed.

The proposal, voted down at Facebook’s annual shareholder meeting on Thursday by an undisclosed margin, required that Facebook appoint an independent chair to replace Zuckerberg. Critics had pushed for the vote following a string of controversies at the social media giant including privacy snafus, use of its service by to spread disinformation, and a lack of independent oversight.

….

Another audience member asked Susan Desmond-Helmann, Facebook’s lead independent director, if she would call for an executive session about handing Zuckerberg’s chairman’s role to someone else.

“The answer is no,” she responded. “The company and I and the board of directors are comfortable with the current operating arrangement, where Mark is chairman and CEO.”

….

Activist groups Change of Color and Majority Action also asked shareholders to vote against Zuckerberg. The groups cited key executive departures like that of chief product officer Chris Cox, Facebook’s failure to stop the spread of hate and misinformation, and privacy concerns.”

The Guardian

World’s biggest investor accused of dragging feet on climate crisis

May 21, 2019

“When a letter from BlackRock’s founder and chief executive, Larry Fink, landed in inboxes in January saying that the world’s biggest investor would no longer invest in companies that are not compliant with the Paris climate agreement, people took notice. The media jumped on the announcement, which appeared to herald a new era of finance facing up to the perils of the climate emergency.

The letter was a hoax, carried out by the Yes Men, a group of pranksters with a history of embarrassing big companies. But while the message was fake, the concern behind it was not: environmental campaigners see BlackRock as a key obstacle to progress on meeting climate crisis goals.

Now they are stepping up the pressure on the world’s biggest asset manager – which faces its shareholders at its annual meeting on Thursday – to use its influence on some of the world’s biggest polluters, as it has done previously on issues such as executive pay.”

TruthDig

Facebook Co-Founder Calls for Social Media Giant to Be Broken Up

By Jessica Corbett, Common Dreams
May 10, 2019

“Facebook co-founder Chris Hughes joined the growing group of tech experts, privacy advocates, and politicians publicly raising alarm about the “staggering” power of chief executive Mark Zuckerberg—and, in a lengthy New York Times op-ed published Thursday, called on the government to break up the social media behemoth.

Hughes, who left Facebook over a decade ago, is now a co-chairman of the Economic Security Project and a senior adviser at the Roosevelt Institute.

Greer’s op-ed came just two days after the groups Color of Change and Majority Action
issued an advisory to Facebook shareholders encouraging them withhold their support for the nomination of Zuckerberg to the company’s board of directors at the annual shareholder meeting scheduled for May 30.”

NonProfit Quarterly

Calls to End Zuckerberg’s Reign over the Internet (and You) Increase in Volume

By Ruth McCambridge and Jason Schneiderman
May 10, 2019

“Demands for Mark Zuckerberg’s removal as the unquestioned ruler of three of the world’s most used internet platforms have grown over the last week following a call from Color of Change and Majority Actionfor stakeholders to withhold their support for Zuckerberg’s reelection to the board of directors. His sitting on and chairing the board, say the two groups in their advisory to shareholders, gives him essentially unlimited power, since he also holds a super-voting share of the stock and sits in the CEO position. In light of Facebook’s violations of public trust and individual privacy, this, they say, is unacceptable and creates escalating crises and cascading risks for shareholders—not to mention the rest of us and the very institution of democracy.”

Prosyscom Tech

Can Zuckerberg Be Ousted From Facebook?

By Prosyscom Tech
May 9, 2019

“On May 30, Facebook shareholders will have to decide if they want to re-elect MarkZuckerberg as the company’s CEO. Two activist groups are totally opposed to it and have started a campaign calling for him not to keep him on the management team.

Color of Change and Majority Action, an Internet civil rights group and a corporate accountability organization respectively, consider Mark Zuckerberg and his Facebook design to be problematic. Among other things, they criticize him for being able to do what he wants with his 57.7% share. Color of Change also sees a problem in Facebook’s structure itself, explaining that “lasting change to address the misinformation, discrimination, violent movements and data breaches that put users, especially Black users, at risk cannot subject to the whims of a single person”.”



The Guardian

Facebook cofounder calls for company to break up over 'unprecedented' power

By Adam Gabbatt and Kari Paul
May 9, 2019

“A cofounder of Facebook has called for the government to break up the company, warning that Mark Zuckerberg’s power is “unprecedented and un-American”.
…..
The activist groups Color of Change and Majority Action are urging Facebook’s shareholders to vote against Zuckerberg’s nomination to the board at a 30 May meeting. They are also calling for the creation of an independent government data protection agency to rein in his influence, saying the executive has proven he is unwilling or unable to address the growing concerns surrounding the platform.”



Francois Charron

Mark Zuckerberg pushed to Facebook's exit door?
May 9, 2019

Originally French

“On May 30, there will be a shareholder meeting of Facebook. A vote will be held on whether Mark Zuckerberg should be re-elected head of social media. This one might not survive there as the pressure is strong.
...
A message that is also echoed by two organizations called
Color of Change and Majority Action who are currently pressuring Facebook shareholders to remove Mark Zuckerberg.”

Newsvire

The calls to rein in Mark Zuckerberg have never been louder
May 8, 2019

“A year ago, under Senate questioning, Mark Zuckerberg dodged, denied, and deflected criticisms of the company he cofounded. A year later, with major fines looming, and Facebook’s stock price having risen again by 11%, the CEO’s strategy has evolved: the company is now hailing the virtues of privacy and openly courting reform in what seems like an effort to set favorable boundaries for any data privacy legislation. But criticism of Zuckerberg continues to grow. On Wednesday, digital rights group Fight for the Future joined a growing chorus of activists and investors calling for a change to Facebook’s leadership.
….
Color of Change and Majority Action are calling for investors to withhold votes on a nomination of Zuckerberg to the company’s board at the May 30 meeting and asking investors to support proposals calling for an independent board chair, expanded transparency, equal voting power among shareholders, and a requirement that directors in uncontested elections be chosen by holders of a majority of votes cast. Two of the proposals call for annual reports on risks of content governance and gender pay inequity. As is customary for corporate boards of directors facing shareholder proposals regarding internal governance, Facebook’s board responded to each of the proposals by recommending that stockholders vote no.”

ValueWalk

Majority Action And ICCR Respond To Sturm Ruger’s Annual Meeting

By Jacob Wolinsky
May 8, 2019

“WASHINGTON — Eli Kasargod-Staub, executive director of Majority Action, a nonprofit organization that empowers shareholders to hold corporations accountable to high standards of corporate governance, social responsibility, and long-term value creation, and Josh Zinner, CEO of the Interfaith Center on Corporate Responsibility (ICCR), released the following statement in response to Sturm Ruger & Company Inc (NYSE:RGR)’s annual general meeting today in which shareholders asked the company to reverse its policy of refusing to meet with investors.”



The Washington Post, SF Gate

Exxon shareholders want action on climate change. The SEC calls it micromanagement.

By Steven Mufson

May 8, 2019

“Big investment firms are again using their vast stock holdings to pressure corporate executives over everything from boardroom diversity and political activity to food waste and plans to reduce greenhouse-gas emissions.

But the Securities and Exchange Commission, which has widened its definition of shareholder “micromanaging,” has sided with company management and has issued guidance effectively keeping a wide array of shareholder resolutions off annual-meeting ballots.

One of the highest-profile battles is being waged over a proposal that would have urged ExxonMobil to disclose short-, medium- and long-term greenhouse-gas targets “aligned with” reductions established by the Paris climate agreement in 2015 in an effort to limit global warming to two degrees Celsius, if not 1.5 degrees.
….
Majority Action has two resolutions at Duke Energy, one aimed at forcing transparency about lobbying and political spending and the other seeking a report on public health risks posed by coal operations. The group also lamented that Duke renominated former steel executive Daniel DiMicco to its board; DiMicco has said that he does not believe in the need for climate policies.”


NDTV Gadgets

Activists Turn to Facebook Shareholders in Long-Shot Bid to Oust Zuckerberg

By gagdets.ndtv.com
May 8, 2019

“Activists angry with Facebook are taking their complaints to the next level: Shareholders.

Civil rights group Color of Change and Majority Action, a group focused on corporate accountability, are launching a new campaign to persuade shareholders to oust chief executive Mark Zuckerberg from the board of directors.

They're urging them to limit Zuckerberg's "sweeping" control of the company in the wake of "insufficient response" to a series of crises - ranging privacy incidents to the rampant spread of disinformation by Russians ahead of the 2016 election. Ahead of a Facebook investor meeting scheduled for later this month, the groups want to bring awareness to the broad power Zuckerberg wields as both the company's chairman and chief executive - who also holds majority voting rights within the company.

Turning to shareholders is a prominent example of a relatively new way activists are trying to influence the direction of Silicon Valley giants - especially in the absence of regulatory action from Washington.”

Fast Company

The calls to rein in Mark Zuckerberg have never been louder

By DJ Pangburn
May 8, 2019

“A year ago, under Senate questioning, Mark Zuckerberg dodged, denied, and deflected criticisms of the company he cofounded. A year later, with major fines looming, and Facebook’s stock price having risen again by 11%, the CEO’s strategy has evolved: the company is now hailing the virtues of privacy and openly courting reform in what seems like an effort to set favorable boundaries for any data privacy legislation. But criticism of Zuckerberg continues to grow. On Wednesday, digital rights group Fight for the Future joined a growing chorus of activists and investors calling for a change to Facebook’s leadership.

“In this gilded age of Big Tech, Silicon Valley’s royal families have sat in their castles, amassing treasure mined from a mountain of our data, seemingly untouchable as they weather scandal after scandal while they offer empty apologies and their power grows,” writes Evan Greer, deputy director of Fight for the Future, in an op-ed in The Guardian. “It’s time we prove that these kings are not gods. It’s time we dethrone Mark Zuckerberg.”

Fight for the Future’s call for resignation comes days after digital civil rights group Color of Change and corporate accountability organization Majority Action sent a letter to the Securities and Exchange Commission (SEC), informing the agency that they will urge Facebook shareholders to not nominate Zuckerberg to lead Facebook’s board at the company’s investor meeting on May 30.”

The Hill

Pressure builds for FTC to punish Zuckerberg

By Harper Neidig
May 8, 2019

“Pressure is growing for federal regulators to hold Facebook CEO Mark Zuckerberg personally accountable for his company’s string of privacy scandals.

The Federal Trade Commission (FTC) is wrapping up a long-running investigation into Facebook over its data practices and is expected to levy a multibillion-dollar fine. But a report from The New York Times said that a rift has opened at the agency over whether to also hold executives like Zuckerberg liable in any enforcement action.
….
On Monday, two organizations, Color of Change and Majority Action, urged Facebook’s shareholders to remove Zuckerberg from his perch as chairman of the board.”


AndroidPit

Can Zuckerberg be ousted from Facebook?

By Benoit Pepicq
May 8, 2019

“On May 30, Facebook shareholders will have to decide if they want to re-elect Mark Zuckerberg as the company's CEO. Two activist groups are totally opposed to it and have started a campaign calling for him not to keep him on the management team.

Color of Change and Majority Action, an Internet civil rights group and a corporate accountability organization respectively, consider Mark Zuckerberg and his Facebook design to be problematic. Among other things, they criticize him for being able to do what he wants with his 57.7% share. Color of Change also sees a problem in Facebook's structure itself, explaining that "lasting change to address the misinformation, discrimination, violent movements and data breaches that put users, especially Black users, at risk cannot subject to the whims of a single person.”

Also available in French, German, Spanish, Italian


Sentinel & Enterprise Business

Technology: Activists ask shareholders to oust Zuckerberg

By Cat Zakrezewski, The Washington Post
May 8, 2019

“Activists angry with Facebook are taking their complaints to the next level: Shareholders.

Civil rights group Color of Change and Majority Action, a group focused on corporate accountability, are launching a new campaign to persuade shareholders to oust chief executive Mark Zuckerberg from the board of directors.

They're urging them to limit Zuckerberg's "sweeping" control of the company in the wake of "insufficient response" to a series of crises -- ranging privacy incidents to the rampant spread of disinformation by Russians ahead of the 2016 election. Ahead of a Facebook investor meeting scheduled for later this month, the groups want to bring awareness to the broad power Zuckerberg wields as both the company's chairman and chief executive -- who also holds majority voting rights within the company.”

Civicist

Sniff, Sniff: More bad facial recog tech; civil rights and Facebook; and much more.

By Micah L. Sifry
May 7, 2019

“Color of Change and Majority Action have launched a campaign to oust Facebook CEO Mark Zuckerberg from the company’s board of directors, The Hill’s Emily Birnbaum reports. They say that Zuckerberg’s absolute control of the company “is a threat to the civil rights of its Black users and to the financial interests of its shareholders.”

The Mercury News

Facebook shareholders, FTC urged to hold Mark Zuckerberg accountable

By Levi Sumagaysay
May 7, 2019

“Facebook Chairman and CEO Mark Zuckerberg is facing increasing pressure this week as two advocacy groups urged shareholders to withhold their votes for his renomination to the company’s board, and two senators urged the FTC to hold him personally responsible for the tech giant’s privacy failures.

On May 30, Facebook investors will consider several shareholder proposals related to management of the company, and a common theme among them is criticism that Zuckerberg holds too much power. Civil rights advocacy group Color of Change and corporate-accountability group Majority Action this week filed a notice of exempt solicitation with the Securities and Exchange Commission, in which they urge Facebook shareholders not to vote for Zuckerberg for chairman. They said the company’s response to its many scandals is insufficient.

“Lasting change to address the misinformation, discrimination, violent movements and data breaches that put users, especially black users, at risk cannot be subject to the whims of a single person,”  Color Of Change President Rashad Robinson said in a statement.”


FOX News

Facebook's Zuckerberg under fire as shareholders are urged to remove him as board chair

By Christopher Carbone
May 7, 2019

“Two nonprofits are mobilizing to push shareholders to remove Facebook CEO Mark Zuckerberg from his post as chair of the tech giant's board.

Ahead of Facebook's shareholder meeting at the end of May, the civil rights group Color of Change is harnessing the power of its 1.5 million members in partnership with investor advocacy organization Majority Action to educate the company's independent shareholders and urge them to vote 'no' on Zuckerberg remaining as board chair.

"Facebook's governance structure is a threat to the civil rights of its Black users and to the financial interests of its shareholders," said Rashad Robinson, president of Color of Change, in a statement provided to Fox News. "Lasting change to address the misinformation, discrimination, violent movements and data breaches that put users, especially Black users, at risk cannot be subject to the whims of a single person....Shareholder value is threatened by the company's failure to make fixing civil rights violations an operational priority."”

Washington Post

The Technology 202: Activists turn to Facebook shareholders in long-shot bid to oust Zuckerberg

By Cat Zakrewski
May 7, 2019

“Activists angry with Facebook are taking their complaints to the next level: Shareholders.

Civil rights group Color of Change and Majority Action, a group focused on corporate accountability, are launching a new campaign to persuade shareholders to oust chief executive Mark Zuckerberg from the board of directors.

They're urging them to limit Zuckerberg’s “sweeping” control of the company in the wake of “insufficient response” to a series of crises -- ranging privacy incidents to the rampant spread of disinformation by Russians ahead of the 2016 election. Ahead of a Facebook investor meeting scheduled for later this month, the groups want to bring awareness to the broad power Zuckerberg wields as both the company’s chairman and chief executive -- who also holds majority voting rights within the company.”

Politico

Facebook critics urge shareholders to drop Zuckerberg as chairman

By Steven Overly
May 6, 2019

“Advocacy groups critical of Facebook's track record on privacy and diversity are calling on the company's shareholders to oppose CEO Mark Zuckerberg being reappointed as chairman of the board at an annual meeting later this month.

Color of Change and Majority Action argue in a shareholder advisory released today that Zuckerberg's dual role as chief executive and chairman, as well as his voting power, gives him too much control over the company.

Under his leadership, the groups contend, Zuckerberg has failed to adequately address concerns about misinformation, harassment and data privacy, particularly the impact those issues have on users from minority backgrounds.”

UPI

Activists call on Facebook shareholders to dump Mark Zuckerberg as chairman

By Danielle Haynes
May 6, 2019

“May 6 (UPI) -- Civil rights and corporate accountability activist groups on Monday encouraged Facebook shareholders to vote against keeping CEO Mark Zuckerberg as chairman of the board, citing his majority voting rights and the company's user privacy problems.

The groups, Color of Change and Majority Action, notified the Securities and Exchange Commission in a filing about their intent to advise Facebook's shareholders. The move came after the Facebook board of directors declined to institute shareholder proposals for reforms to governance and best practices.”

Mother Jones

Mark Zuckerberg Has Veto Power Over All of Facebook. The Next Shareholder Meeting Could Change That.

By Tonya Riley
May 6, 2019

“Nonprofits plan to use Facebook’s upcoming May shareholder meeting to continue a push to wrest power at the company from its founder and CEO Mark Zuckerberg. On Monday, in light of ongoing privacy scandals, repeated civil rights violations, and ongoing content moderation problems, civil rights group Color of Change and the investor advocacy group Majority Action filed an advisory to shareholders asking that they abstain from voting for CEO Mark Zuckerberg to remain chair of the company’s board.

According to Eli Kasargod-Staub, executive director of Majority Action, the notice, which is filed through the SEC, effectively outlines that Zuckerberg is not a “responsible choice” for the chair’s seat.

“Facebook really exemplifies what happens when corporate governance goes amuck,” says Kasargod-Staub. “We’ve seen the impacts on shareholders, we’ve seen the impact on vulnerable users, we’ve seen the impacts internationally.”

The Hill

Activists Launch Campaign to Remove Zuckerberg from Facebook Board

By Emily Birnbaum
May 6, 2019

“Two activist groups on Monday launched a campaign to oust CEO Mark Zuckerberg from Facebook's board of directors, arguing his "sweeping" control of the company presents a barrier to civil rights and privacy reform.

Digital civil rights group Color of Change and Majority Action, a corporate accountability organization, told the Securities and Exchange Commission that they will be urging Facebook shareholders to withhold their support for nominating Zuckerberg to the board.

The two groups argue that Facebook's corporate structure gives Zuckerberg "control without adequate checks," pointing out that he is CEO and holds 57.7 percent of voting rights in the company.”

Kallanish Energy

BlackRock petitioned on climate change

By Kallanish Energy
May 2, 2019

“A grass-roots coalition, led by the group Majority Action has delivered a petition with more than 129,000 signatures to BlackRock, the world’s largest asset manager, Kallanish Energy reports.

The petition asks BlackRock, Vanguard and Fidelity to use their voting power to support key climate change-related shareholder resolutions, and to vote against directors who are not serving long-term investors’ best interests at nine major upcoming shareholder meetings.

Those annual general meetings, which include resolutions on climate change and political transparency will involve Amazon, Anadarko Petroleum, BlackRock, Chevron, Duke Energy, Dominion, ExxonMobil, Ford and General Motors. The Duke Energy vote is today.

BlackRock, the world’s largest investor in fossil fuels, has supported only 10% of climate-change resolutions, critics say.”

Wall Street Italia (Originally in Italian)

BlackRock under pressure, shareholders demand turning against climate crisis

By Alberto Battaglia
May 2, 2019

“A coalition of "bottom-up" shareholders, led by the Majority Action group, handed over a petition from over 129,000 signatures to BlackRock , the world's largest asset manager, with the aim of raising awareness in society to support pro-environment decisions. In fact, BlackRock has significant holdings in Amazon , ExxonMobil, Ford, General Motors and other important companies that will soon have to express their views on some resolutions that can make their business more sustainable. The asset manager, therefore, will be able to use his shareholder's weight to support the resolutions that will be proposed in the coming weeks, in a total of nine shareholders' meetings. In addition to BlackRock, the same petition was also addressed to Vanguard, a passive fund giant, and Fidelity.”

Business Green

BlackRock under renewed pressure to support climate action

By Anna Fedorova
May 1, 2019

“A coalition of groups led by Majority Action has delivered over 129,000 petition signatures to BlackRock in an effort to force the world's largest asset manager to use its voting powers to force companies to act responsibly on climate.”

The Motley Fool

Sturm, Ruger Targeted by Activists Again

By Rich Duprey
April 20, 2019

“America's largest gunmaker, Sturm, Ruger (NYSE:RGR) is once again the target of activist investors who want to express dissatisfaction with management's response to last year's shareholder ballot initiative that required Ruger to report on the risks facing its business...

A targeted response:

The activists did not like Ruger's response, leading Majority Action -- a group that bills itself as a platform that "empowers individuals and groups to organize for progressive causes," along with the Interfaith Center on Corporate Responsibility (ICCR), one of the groups behind last year's proxy fight -- to attempt to penalize Ruger chairman Michael Jacobi and director Sandra Froman. Froman also serves as a director of the National Rifle Association (NRA), where she has held several executive positions, including president between 2005 and 2007.”

Financial Advisor

Shareholder Advocates Carry Gun Fight To New Level

By Karen Demasters
April 11, 2019

“Majority Action and the Interfaith Center on Corporate Responsibility said Wednesday they have called on shareholders of Sturm, Ruger & Co. to withhold support from the board chairman, Michael Jacobi, and Director Sandra Froman, a former president of the National Rifle Association. The complaint is that the gun manufacturer has refused to engage with shareholders about risk oversight, governance failures and the loss of shareholder value.

Sturm Ruger has experienced declining sales and profitability two years in a row, and it has seen a 12.9 percent decline in total shareholder return since November 2016.

Sturm Ruger and other gunmakers have come under increased pressure from investors and gun safety advocates to help provide solutions to mounting episodes of gun violence, said Majority Action and ICCR. This mounting pressure follows the 2018 Parkland, Fla., high school massacre. It also follows a lawsuit against a competing firearm manufacturer, Remington Arms Company, filed by the families of victims in the 2012 Sandy Hook Elementary School shooting in Newtown, Conn.”

Value Walk

Shareholders Seek to Hold Sturm Ruger Board Accountable

By Jacob Wolinsky
April 10, 2019

“Shareholder advisory calls for investors to vote against two directors

WASHINGTON — Yesterday Majority Action and Interfaith Center on Corporate Responsibility issued an investor advisory calling on shareholders of Sturm, Ruger & Co. (RGR) to withhold support from the board chairman, Michael Jacobi, and Director Sandra Froman. The advisory raises multiple concerns about the gun manufacturer’s refusal to engage with shareholders about risk oversight, governance failures, and loss of shareholder value.

Sturm Ruger has experienced declining sales and profitability two years in a row, and it saw a 12.9% decline in total shareholder return since the November 2016 US election.”

Reuters

Investor activists will campaign against Sturm Ruger directors

By Ross Kerber
April 9, 2019

“BOSTON (Reuters) - Investor activists said on Monday they will campaign to unseat two directors at gunmaker Sturm Ruger & Co, citing what they called its resistance to their concerns after shareholders won a battle over safety at last year’s annual meeting.

The plan for this year’s gathering, set for May 8 in New Hampshire, promises to renew a debate over how the company might respond to a series of mass shootings across the United States, including at schools, houses of worship and workplaces.

The activists include Majority Action, a liberal-leaning shareholder group, and religious investors affiliated with the Interfaith Center on Corporate Responsibility. While they hold a small number of Sturm Ruger shares, last year members of Interfaith Center won backing for a resolution from fund companies including top Ruger shareholders BlackRock Inc and Vanguard Group, showing an ability to set the agenda.”

Winston-Salem Journal

Shareholder advocates again oppose two Ruger board members

By Richard Craver
April 9, 2019

“An influential shareholder group will not support two Sturm, Ruger & Co. board members for re-election for the second consecutive year. Majority Action, a left-leaning shareholder-advocacy group, and Interfaith Center for Corporate Responsibility, submitted the warning that Ruger disclosed in a regulatory filing Tuesday. Ruger had at last count 334 employees at its plant in Mayodan.”

Bloomberg

Smith & Wesson Under Siege by Investors, Cops and Priests

By Neil Weinberg & Polly Mosendz
September 21, 2018

"Majority Action, a left-leaning shareholder activist group that holds American Outdoor shares, faults the company for “abruptly” shuttering the Smith & Wesson Academy without adequately disclosing its plan and for insufficient enforcement of company policy regarding conflicts. It also recently accused company managers of violating an investor resolution regarding political contributions. The group said American Outdoor should have disclosed $1.5 million in gifts to the National Rifle Association and the National Shooting Sports Foundation...

Over the years, American Outdoor’s directors have shared various financial interests well beyond the company. For example, Saltz and another American Outdoor director, Chairman Barry Monheit, are on the board of Modern Round, a VirTra partner in a budding chain of entertainment facilities combining virtual-reality shoot-outs with food and beverages. Saltz is Modern Round’s chairman and majority shareholder. That involvement, which the two men disclosed to investors, presumably gives the pair an interest in the prosperity of VirTra, Majority Action says."

Forbes

Gun Control: An Issue for Policymakers or Investors?

By Morgan Simon
September 21, 2018

INTERVIEW: "This interview with Eli Kasargod-Staub and James Rucker, co-founders of Majority Action, is part of The Money Story Behind the Story series that examines the role of money in critical current events. It covers their ground-breaking work holding gun manufacturers accountable for their impact. Notably, they have been taking a close look at the actions of board members of Sturm, Ruger & Co. and American Outdoor Brands Corporation (AOBC), commonly known as Smith & Wesson—a unique tactic in the broader field of shareholder activism."

Reuters

Limited engagement: Top funds backed gunmaker Ruger board despite no talks

By Ross Kerber
August 30, 2018

"The big fund firms “have to look at sensitivities” of their clients and business partners, said Brian Rafn, principal of Morgan Dempsey Capital Management in Milwaukee, who described himself as a gun-rights supporter and says the firm voted all its 80,000 or so shares with Sturm Ruger’s management...

Eli Kasargod-Staub, co-founder of Majority Action, a group that had campaigned for top funds to vote against Sturm Ruger director Sandra Froman, a past president of the National Rifle Association, called the votes “a failure of leadership” by the fund managers."

CNBC

Gun safety activists prepare to put their power behind shareholder voting at Sturm Ruger

By Liz Moyer
May 1, 2018

"Another community group, Majority Action, is organizing retail investors to push big fund companies like BlackRock and Vanguard, Sturm Ruger's biggest shareholders, to assert their voting power. The group organized about six weeks ago, seeing now as a crucial moment for changing the gun industry."

Mother Jones

NRA Leader Once Worked for Professor Who Claimed Blacks Were Genetically Inferior

David Corn & Pemy Levy
May 1, 2018

On Tuesday night, Majority Action, a shareholders activist group, began the process of submitting a shareholder advisory with the Securities and Exchange Commission challenging Froman’s position on the board and citing “archival records” revealing “that she worked with Shockley over at least a three-year period.” The group intended to point out that the Southern Poverty Law Center has called Shockley “an ardent eugenicist whose theories of black racial inferiority eventually made him an academic pariah.”