CNBC by Liz Moyer 5/9/2018
A proposal, backed by the Northwest Coalition for Responsible Investment, asks gun makers like Sturm Ruger to prepare a report about the financial and reputational risks associated with their business.
Ruger's CEO, Christopher Killoy, said at the company's annual meeting on Wednesday that the company will comply and prepare the report.
It was the first major test this year for faith-based shareholder groups, which have been urging the nation's gun industry to act after recent extreme examples of gun violence.
A group of nuns and other faith-based investors won a shareholder vote at Sturm Ruger & Co. requiring one of the nation's largest gun-makers to prepare a report about the risks of its business.
Ruger's CEO, Christopher Killoy, said at the company's annual meeting on Wednesday that the company will comply and prepare the report. "Shareholders have spoken," he said.
But, he added, the winning proposal "cannot force us to change our business," and "cannot change what Ruger is about and what we stand for."
It was the first major test this year for faith-based shareholder groups, which have been urging the nation's gun industry to act after recent extreme examples of gun violence.
More:
https://www.cnbc.com/2018/05/09/sturm-ruger-shareholders-approve-proposal-for-gun-maker-to-report-on-risks-of-its-business.html