New York State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund, released the following statement today in response to McDonald’s decision to disclose workforce diversity data and tie executive compensation to the company’s ability to foster inclusion and ensure improved human capital management. As a result of McDonald’s new policy, DiNapoli and the Fund are withdrawing their shareholder proposal that had asked the company to connect executive compensation to the company’s management of ESG and workforce issues. The Fund owned 1,674,102 shares in McDonald’s valued at $359,229,000 as of Dec. 31, 2020.
“It’s my hope that other companies follow McDonald’s example, particularly those corporations where New York state’s pension fund has filed similar shareholder proposals seeking greater attention to, and respect for, their human capital.
Author: Thomas DiNapoli
Publication Date: 18 February 2021
Publication Site: Office of the New York State Comptroller