Coca-Cola is a corporation. They are run by a board of directors and they have a CEO and other officers but at heart, they are owned by their shareholders and it is those shareholders who have a say over the direction of the business. From Paul Mirengoff writing at Powerline:
CONCERNED SHAREHOLDERS TAKE ACTION AGAINST COKE’S RACIST DEMANDS
In January 2021, the general counsel of Coca-Cola sent a letter to the law firms that represent it. The letter demanded, among other things, that these firms “commit that at least 30% of each of billed associate and partner time will be from diverse attorneys, and of such amounts at least half will be from Black attorneys.”
In response to this outrageous policy, the American Civil Rights Project (of which I am a board member) has sent a letter to the company on behalf of concerned Coca-Cola shareholders. The letter demands that the Coke either (1) publicly retract the discriminatory outside-counsel policies it announced in January or (2) provide access to the corporate records related to the decision of Coca-Cola’s officers and directors to adopt and retain those illegal policies.
And the upshot was this missive - the conclusion:
The letter concludes with this demand:
The Stockholders therefore demand that you immediately publicly retract the Policies in their entirety. If we do not receive a response to these demands within 30 business days, we will understand. . .Coke. . .to have refused to address these matters themselves. At that point, the Stockholders will be forced to seek judicial relief to protect Coke and the Stockholders’ interests in the company from your continued breaches of your fiduciary duties.
I hope that after you have reviewed this letter, you will be in touch to inform us of how Coke will comply with these demands.
The letter is dated June 11, 2021. The clock is ticking.
People for generations to come will visit Atlanta to see the smoking crater where the Coca-Cola boardroom used to be. If they do not come to their collective senses that is.
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