Word: pepsico
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...filers' proposal would put PepsiCo in the untenable position of having to assess and respond to any number of political and ideological disagreements which may arise wherever we do business," the response continued...
...proposal, submitted by Maryknoll Fathers and Brothers in New York State, requested that "PepsiCo and its subsidiaries shall terminate operation in Burma until political prisoners are released and political power transferred to the democratically-elected government of Burma...
...Securities and Exchange Commission (SEC) excluded the proposal as a voting issue from the May shareholders meeting after PepsiCo applied for an exemption on the grounds that its sales in Burma were less than five percent of net earnings and gross sales...
...result, the shareholders group added another proposal to the agenda, asking PepsiCo to "review and update the PepsiCo Code of Conduct and report their revisions to shareholders...
...board of directors responded on the proxy shareholders' ballot, saying, "Due to the long-term nature of PepsiCo's businesses and the inevitability of political and social change, we long ago concluded that it is neither prudent nor appropriate for us to establish our own country-by-country policy...