The disastrous Bud Light debacle might finally be teaching a crucial lesson, as Coca-Cola shareholders last week resoundingly dismissed three leftist-backed proposals, suggesting that even companies with liberal inclinations are recognizing the financial risks of blindly embracing “woke” agendas.

Coca-Cola Co. shareholders last week decisively rejected three proposals from leftist activists that aimed to push the company further into supporting liberal causes, indicating that American investors are growing weary of the “go woke, go broke” mentality that’s infiltrated many corporate boardrooms. While Coca-Cola is by no means a bastion of conservative values, these votes could signal that even companies with liberal leanings are starting to acknowledge the financial impact.

The headline-making proposal concerned a study on how individual states’ pro-life laws might impact Coca-Cola’s business, potentially influencing decisions about “closure or expansion of operations” based on abortion access. This motion was overwhelmingly defeated, with nearly 87% of controlling shares voting against it, as reported by the proxy vote.

Another proposition, which called for Coca-Cola to audit itself to determine how its “corporate policies, practices, products, and services” affect non-white individuals, was also shot down by just over 83% of controlling shares. The proposal’s “social justice” language seemed to accuse the company of racism towards customers, employees, and executive-level personnel. Shareholders, however, weren’t convinced.

The third proposal demanded an examination of Coca-Cola’s political contributions to ensure they aligned with the company’s stated values, even invoking the Jan. 6, 2021, Capitol incursion. Despite being the closest vote, it was still soundly defeated with 70.9% of controlling shareholders voting against it.

Bud Light’s ill-fated partnership with troubled transgender celebrity Dylan Mulvaney serves as a cautionary tale for companies considering involvement in contentious political and social issues unrelated to their products. Bud Light, its parent Anheuser-Busch, and InBev exist to generate profits for their shareholders, not to advance specific agendas.

The Bud Light fiasco should remind American companies that they’re in business to serve all Americans, not just a select few who hold particular beliefs. It seems Coca-Cola executives, who have a history of supporting leftist causes, maybe learning that there’s a limit to how far a company should go in alienating customers for the sake of ideological purity.

The Atlanta-based company previously took a stance on Georgia’s election reform law in 2021, in an attempt to showcase its progressive values. However, the move only ended up harming its own business without impacting the law. Regarding abortion, the company’s board of directors boasted about a benefits package that includes travel reimbursement for employees who need to leave their state to obtain a medical procedure unavailable locally.

Despite its liberal leanings, it appears that even Coca-Cola is recognizing the importance of not alienating customers for ideological reasons. Shareholders’ votes might not signify a complete turnaround for corporate America, but it is a step in the right direction. Coca-Cola wisely chose to avoid making the same mistakes as Bud Light.

Ultimately, businesses should remember that conservatives, too, contribute to their bottom lines. Coca-Cola shareholders seem to have come to that realization.

WATCH the video below for more details:

Sources: Westernjournal, Pproxy vote

Leave a Reply

Your email address will not be published.