Disney Forced To Face Activist Shareholder Inquiring About China

Disney Forced To Face Activist Shareholder Inquiring About China

Tourists at Shanghai Disneyland after its reopening on May 11, 2020 in Shanghai, China. (Photo by Hu ... [+] Chengwei/Getty Images) Disney tried to kill it, but the Securities and Exchange Commission didn't let them. The National Legal and Policy Center (NLPC), a Disney shareholder, presented a resolution at The Walt Disney DIS Company's annual shareholder meeting on Wednesday, March 9 asking for an annual report on the company's efforts to determine human rights protections in foreign countries, namely China. The resolution was put up for a proxy vote, which Disney's board rejected, citing the shareholder sought to micromanage the company. The SEC disagreed and told Disney on January 19 that NLPC had a right to put the proxy vote before the company's shareholders. While the resolution did ultimately lose, 34% of shareholders voted in favor of Disney producing evidence that it was not sourcing materials from companies sanctioned by the U. S., or regions sanctioned by the U. S. for human rights violations. During the shareholder meeting, NPLC noted that Disney supports documents like the "United Nations' Universal Declaration on Human Rights" but questioned what they were doing about it as a company. And why China was getting a