BOSTON (Reuters) – Investor activists said on Monday they will campaign to unseat two directors at gunmaker Sturm Ruger & Co, citing what they called its resistance to their concerns after shareholders won a battle over safety at last year’s annual meeting.
FILE PHOTO: Worker Marilyn MacKay assembles a rifle at the Sturm, Ruger & Co., Inc. gun factory in Newport, New Hampshire January 6, 2012. REUTERS/Eric Thayer/File Photo
The plan for this year’s gathering, set for May 8 in New Hampshire, promises to renew a debate over how the company might respond to a series of mass shootings across the United States, including at schools, houses of worship and workplaces.
The activists include Majority Action, a liberal-leaning shareholder group, and religious investors affiliated with the Interfaith Center on Corporate Responsibility. While they hold a small number of Sturm Ruger shares, last year members of Interfaith Center won backing for a resolution from fund companies including top Ruger shareholders BlackRock Inc and Vanguard Group, showing an ability to set the agenda.
This year the activists said they will call on other investors to vote “withhold” on Sturm Ruger Chairman Michael Jacobi and on company director Sandra Froman, who is also aRead the rest of this post here