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NEW YORK (Reuters) – Environmental groups are asking Procter & Gamble (NYSE:PG) Co investors to vote against its chief executive and two directors at its annual meeting next month because the company has not improved its forest sourcing, according to a document seen by Reuters.
Environmental nonprofits including the Natural Resources Defense Council (NRDC) have targeted P&G for failing to reduce its reliance on virgin wood pulp for its paper products, including Bounty paper towels and Charmin toilet paper. They are also calling on it to clean up how it sources palm oil from tropical rainforests.
NRDC, Friends of the Earth and the Rainforest Action Network now want investors to pull their backing from CEO Jon Moeller, who is chairman of the board, and corporate directors Angela Braly and Patricia Woertz, chair and member of the governance and public responsibility committee, respectively, according to the document, which was filed with the U.S. Securities and Exchange Commission on Monday.
Investors are set to vote on the re-election of P&G’s corporate directors at its annual meeting on Oct. 11.
