Press Release
National Center for Public Policy Research Free Enterprise Project (FEP)
American Express Has Been Hijacked By The Left
FEP Aims to Whack Back the Hijack
Washington, D.C. – At tomorrow’s American Express annual meeting, the National Center for Public Policy Research’s Free Enterprise Project (FEP) will argue that the company’s political activities and positions “are a waste – if not just theft – of shareholder resources undertaken to advance the personal political agendas of board members, corporate management and activist employees.”
Shareholders will be able to vote on FEP’s Proposal 5 (“Political Bias Risk Oversight”), which would amend the company’s bylaws to create a Political Bias Committee to “exercise oversight of risks related to board and management political bias.”
In the proposal’s supporting statement, FEP notes:
According to the 1792 Exchange, which rates corporate political and cultural risk exposure, American Express is classified as a “High Risk” company because it “embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues.” The report further notes that the political contributions of American Express leadership favor Democrats over Republicans by nearly nine to one, which is a significant disparity that raises the specter of a material lack of viewpoint diversity within leadership ranks that could lead to insufficiently informed decision-making due to echo-chamber effects putting shareholder value at risk.
