PepsiCo CEO announces plan to develop AIDS policy
May 07 2004 11:00 PM ET
In the wake of a failed shareholder resolution this week to force soft drink giant PepsiCo to examine its AIDS policies at home and overseas, company CEO Steven Reinemund has announced that the company will develop an AIDS policy by the end of the year, the New York Journal reports. Only about 7.7% of the company's shareholders supported the AIDS resolution, which was introduced by the Interfaith Center on Corporate Responsibility and called for a report within six months on the economic and employee impact of the global AIDS pandemic. PepsiCo's board of directors opposed the shareholder resolution. But Reinemund, acknowledging that many company shareholders are AIDS activists, said the company board opted independently to examine its employee programs to identify ways to fight the disease in areas of the world where PepsiCo has operations. "HIV/AIDS is a priority for PepsiCo, and we are taking action," Reinemund said. "We will have a complete policy on HIV and AIDS by year-end, which we will be sharing publicly."