The Oblate Faith Consistent Investment program challenges corporations to ethical standards in their social and financial policies. As Investors, we are concerned with excessive CEO compensation. The past two decades have seen an unprecedented growth in executive compensation and a dramatic increase in the ratio between the compensation of executives and their employees. Some CEOs have received enormous exit packages despite poor performance as top executives.
We call on corporations to diversify the board of directors and demand greater board independence by adopting a policy of separate CEO and chairperson of the board. Oblate FRI has engaged in corporate meetings with Apple Computer, Time Warner, Bank of America, Morgan Stanley and Citigroup.
The Missionary Oblates work with other members of the Interfaith Center on Corporate Responsibility (ICCR) through corporate dialogues and the filing of shareholder resolutions to press companies to adopt these priorities.