Johnson & Johnson (NYSE: JNJ) investors voted in support of a proposal for a third-party racial justice audit at the annual shareholder meeting.
It was the only shareholder proposal to pass at yesterday’s annual meeting, where investors also considered proposals to discontinue global sales of baby powder containing talc, to study the public health costs of protecting COVID-19 vaccine technology, and to include legal and compliance costs in executive pay metrics.
The vote is only advisory, so it doesn’t require Johnson & Johnson to take action, but it sends a strong signal from investors that they view racial justice as a business matter.