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Article

24 Apr 2003

Author:
Betty Liu, Financial Times

Activists question faith in PepsiCo

A coalition of religious shareholders, co-ordinated by the Interfaith Center on Corporate Responsibility, has filed a proxy resolution urging PepsiCo to outline its plans to deal with the Aids pandemic in its African soft drink and snacks businesses. The resolution is one of several filed against US companies with businesses in Africa. However, the coalition noted that resolutions filed with Colgate-Palmolive, Chevron-Texaco and Ford Motor have been withdrawn because the companies opened dialogue with the shareholders. PepsiCo, meanwhile, has sought to kill the resolution in a proposal to the Securities and Exchange Commission