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Trillium Files Workplace Diversity Shareholder Resolution with Visa, Inc.

Boston, MA // October 11, 2016 – Trillium Asset Management filed a shareholder resolution with Visa, Inc. (NYSE: V) asking the company to prepare a diversity report available to investors to include:

  • “A chart identifying employees according to gender and race in major EEOC-defined job categories, listing numbers or percentages in each category
  • A description of policies/programs focused on increasing gender and racial diversity in the workplace.”

Currently, Visa does not disclose workforce data or results related to its diversity initiatives. As a result, shareholders lack sufficient information to determine if the company has a diverse workforce or has effectively expanded diversity.

In the past calendar year, Trillium filed five shareholder proposals addressing workplace diversity and inclusion, including a proposal filed with Adobe Systems, asking the company to prepare a diversity report identifying employees according to gender and race and a description of policies/programs focused on increasing workplace diversity. In exchange for a withdrawal of the shareholder proposal the company expanded a section of its website to include: annual EEO-1 workforce diversity data, disclosure around strategies to build the pipeline of diverse employee candidates, and information on initiatives to attract and retain women and underrepresented minorities in its workforce.

We believe that companies and workers benefit from consistent, corporate-wide efforts to improve racial and gender diversity among its workforce, says Brianna Murphy, Vice President of Shareholder Advocacy at Trillium.

McKinsey & Company found companies with diverse executive teams yielded higher returns on equity and earnings performance than those without significant diversity.[1]

Trillium believes that diversity, inclusive of gender and race, is an essential component of sound governance and a critical attribute to a well-functioning organization. With over 30 years of experience engaging with companies on their ESG performance, we have used shareholder advocacy as a tool to have positive impact on policies, practices and performance.

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For More Information: Caroline White, Trillium Asset Management, cwhite@trilliuminvest.com, Susan Baker, Trillium Asset Management, sbaker@trilliuminvest.com


[1] Barta, T., Kleiner, M., & Neumann, T. (2012, April). Is there a payoff from top-team diversity? Retrieved from http://www.mckinsey.com/business-functions/organization/our-insights/is-there-a-payoff-from-top-team-diversity

The information provided is not a recommendation to buy or sell the securities mentioned.  The securities were selected on an objective basis for illustrative purposes and do not represent all of the securities purchased, sold or recommended.  It should not be assumed that investments in the securities has been or will be profitable.

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