Microsoft shareholders are placing increased pressure on the company to enhance transparency regarding its handling of sexual harassment incidents, particularly in light of recent allegations against co-founder Bill Gates. At the annual meeting, more than three-quarters of investors defied the company’s recommendations to reject the proposal and instead voted for Microsoft to publish a report assessing the effectiveness of its workplace sexual harassment policies.
Bill Gates, aged 66, resigned from Microsoft’s board last year following an investigation into a 2000 affair with a colleague. The affair only came to light in May of this year, shortly after Bill and Melinda Gates announced their plans to divorce. Reports have since surfaced, suggesting that Gates made unwelcome advances towards employees after his marriage in 1994 and was cautioned about his behavior in 2008.
The shareholder proposal, introduced by activist investor Arjuna Capital, called for Microsoft to release a transparency report outlining the outcome of investigations into individual employees’ conduct, as well as providing details about those investigations. Arjuna Capital asserted that allegations of Bill Gates’ inappropriate relationships and sexual advances towards Microsoft employees have raised concerns about the company’s leadership and the board’s accountability for such behavior.
Despite the company’s recommendation to reject the proposal, Microsoft’s board urged shareholders to oppose it, claiming they were already dedicating more resources to combatting sexual harassment. However, the overwhelming support from shareholders for the proposal indicates a rare occurrence, as shareholder proposals typically face significant opposition from companies.
Following the nonbinding result, Arjuna Capital announced that Microsoft had committed to an independent assessment of its policies. Natasha Lamb, the managing partner of Arjuna Capital, stated that, “The accusations against Bill Gates represent a longstanding and poorly managed issue. It is significant that Microsoft is now heeding the concerns of its shareholders and committing to transparent, unbiased, independent reporting.”
In addition to the allegations of sexual harassment, Bill Gates has also faced scrutiny for his association with Jeffrey Epstein, the late financier and convicted pedophile. This connection is believed to have caused tension within his marriage to Melinda. Gates has stated that his relationship with a former employee concluded amicably.
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