Comments lead to boycott
A KiwiSaver fund says it is adding chemical company DGL to a list of businesses it won’t invest in because of ‘‘derogatory comments’’ its boss made about chef Nadia Lim.
Rich-lister and DGL chief executive Simon Henry told NBR a photo of Lim in My Food Bag’s prospectus was ‘‘a little bit of Eurasian fluff’’. He said she was ‘‘showing some cleavage’’ and showing off her sensuality to sell ‘‘scrip’’.
Kiwi Wealth chief executive Rhiannon McKinnon said it was in the process of adding DGL to its exclusions list in response to Henry’s ‘‘derogatory comments’’.
As part of Kiwi Wealth’s responsible investment strategy it considers environmental, social, and governance issues with investment decisions it makes.
McKinnon said it was particularly concerned with the governance of DGL and would be unlikely to invest in the company until it had a new chief executive.
‘‘You’d have to see some change at that level, for sure.’’
It did not hold DGL stocks. She said it was ‘‘abysmal’’ that Henry had been critical of Lim on the basis of gender and race.
Kiwi Wealth is owned by the NZ Super Fund, ACC and NZ Post and has $7 billion worth of assets under management.
Henry has been approached for comment via DGL’s media contacts.
Henry bought Christchurch commercial properties after the 1987 share market crash and grew his estimated $600 million wealth from there.
My Food Bag was started by Cecilia and James Robinson, former Telecom boss Theresa Gattung, and Lim and her husband, Carlos Bagrie.
Lim is now a brand ambassador for My Food Bag and featured in a photo in My Food Bag’s 84-page prospectus, released as part of its initial public offering before being publicly listed.
Human Rights Commission equal employment opportunities commissioner Saunoamaali’i Karanina Sumeo said customers and investors increasingly demanded a high standard of the businesses they dealt with.
Sexism and racism had no place in society and were against the law, she said.
It expected businesses to uphold, protect and respect people’s rights, she said.
DGL has a diversity policy that says the company is committed to being an inclusive workplace that embraces and values diversity.
‘‘In order to have an inclusive workplace, discrimination, harassment, vilification and victimisation cannot and will not be tolerated,’’ it says.