Kraft Heinz appeases shareholder group
Kraft Heinz, which is scheduled to hold its annual shareholders meeting Wednesday, has satisfied at least one group pushing for more information on the company’s sustainability efforts. In a regulatory filing this week, the company said a proposal submitted by the Province of St. Joseph of the Capuchin Order, on behalf of three organizations, has been withdrawn. In March, Kraft Heinz promised an expanded commitment to sustainability targets on energy and sourcing issues, as well as social concerns such as global hunger. At the time, a company spokesman said the overall commitments represent a $200 million investment. Two other shareholder proposals also had been submitted — one focused on pushing Kraft Heinz to do more with recyclable packaging and another seeking a report looking at the company’s supply chain impact on deforestation.