Institutional Shareholder Services (ISS), the independent proxy advisor, recommended investors withhold support from three directors at Sturm Ruger & Co – Sturm Ruger Chair Michael Jacobi and the heads of its governance and risk oversight committees – ahead of its May 8 annual meeting, according to Reuters.
Gun control activists have long been pushing Sturm Ruger to take further steps to address mass shootings. Majority Action — a group that bills itself as a platform that “empowers individuals and groups to organize for progressive causes,” along with the Interfaith Center on Corporate Responsibility (ICCR)have called are calling for shareholders to withhold their votes from the nominees at the annual meeting,
In a report seen by Reuters on Friday, ISS said a safety report prepared last year by the company last year at the behest of investors after a shareholder ballot initiative “provides little new information.” ISS also disagreed with Sturm Ruger’s board’s policy of non-engagement with investors
Another proxy advisor, Glass Lewis, recommended support for all nine of Sturm Ruger’s director nominees.