Johnson & Johnson voted against a proposal to end sales of its talc-based
baby powder globally at its annual shareholder meeting on April 28, 2022.
The company stopped selling talc-based baby powder in the US and Canada
in 2020 after an independent lab found traces of asbestos in the product.
The proposal to end sales of the product was introduced by investment platform
Tulipshare, which unites smaller shareholders to influence the companies
they invest in to move toward more ethical and environmentally safe business
Another proposal which did pass the vote was for the company to allow a
third-party Racial Justice Audit to assess the companies’ racial
practices of marketing and advertising heavily in neighborhoods and areas
with a predominantly high population of people of color. The
proposal submitted by proposal Mercy Investment Services states that Johnson & Johnson continued to push its talc-based baby
powder in these communities in the midst of, and in spite of, the news
that asbestos had been found in the product.
Mercy’s proposal states that “Organizations from 51 countries
have called on the company to halt sales worldwide.” and that the
Johnson & Johnson’s only response was an attempt to use U.S.
bankruptcy to shield itself liabilities from cancer lawsuits.
Fierce Pharma, April 29, 2022
Amid legal tumult, J&J shareholders reject proposal to end talc sales worldwide