May 30, 2019 // Boston, MA: During the Travelers Companies (NYSE: TRV) May 22nd annual meeting, shareholders sent a strong message to the board to strengthen its workplace diversity reporting when Trillium’s shareholder proposal on workforce diversity received a 50.9% vote.
This is the third consecutive year that the proposal has been filed and voted on by shareholders. More than one third of voting shareholders (36%) supported the proposal in both 2017 and 2018.
The shareholder proposal asked Travelers to report comprehensive workforce diversity data and a description of policies/programs focused on increasing gender and racial diversity in the workplace.
Without quantitative information we believe the company cannot persuasively demonstrate whether its diversity initiatives are successfully advancing women and people of color into varying ranks within the company. Therefore, investors cannot accurately determine if the company is capturing the potential business value associated with a highly diverse workforce.
This proposal’s majority vote reflects shareholders’ expectation that Travelers provide improved, public, comprehensive, and comparable workforce diversity data as a matter of good business practice.
For more information: Brianna Murphy, Trillium Asset Management, 617-532-6662, bmurphy[at]trilliuminvest.com
Important Disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or recommended for advisory clients.