“Now a Real Movement”: Expedia, Inc., World’s Largest Online Travel Company, Joins Amazon, Intel and Apple in Responding to Shareholder Urging to Address Gender Equity.
BOSTON, March 24, 2016 /PRNewswire-USNewswire/ — Expedia is now the fourth major U.S. tech giant to announce since February that it is moving to close the gender pay equity gap. At the conclusion of a successful shareholder dialogue, Arjuna Capital, a division of Baldwin Brothers Inc., a registered investment advisor, withdrew their shareholder resolution that otherwise would have put the matter to a vote of Expedia, Inc. shareholders in June.
Expedia has committed to disclose by October 2016 its policies and goals to address gender pay equity worldwide, including providing information relating to the percentage of pay (including salary, bonus, and equity components) earned by Expedia’s female compared to its male employees.
Arjuna Capital and Baldwin Brothers filed resolutions this shareholder season at nine technology companies asking them to commit to closing the gender pay equity gap. Already this year, Arjuna Capital has announced success in its shareholder engagements at Amazon (Wednesday), Intel (February 3rd) and Apple (March 2nd), all of which reported the gender pay gap is closed, near closed, or will be closed shortly.
“We remain committed to fostering an inclusive workplace for all employees,” said Britta Wilson, vice president of Inclusion Strategies and Cultural Integrity, Expedia, Inc. “In recognition of this commitment, we are actively engaged in efforts intended to ensure equity of access and equity of opportunity. As part of this effort, one of our core areas of focus is increasing women in leadership capacities and ensuring pay equity at all levels.”
Natasha Lamb, director of equity research and shareholder engagement, at Arjuna Capital said: “We applaud Expedia’s leadership as they join the ranks of Apple and Intel to address gender pay equity. Expedia is committed to a comprehensive assessment of gender pay equity. This move is good for Expedia, its employees, and its shareholders. We are now seeing real movement to address gender equity in tech and Expedia is among the companies leading the way.”
Expedia, Amazon, Intel and Apple joined the ranks of very few US companies – The Gap, Salesforce.com, and GoDaddy—that have been accountable and transparent in their commitment to gender pay equity.
On a national level, women, who are paid an average of 78 cents for every dollar men earn, will not reach pay parity until 2058. In the technology industry, which struggles to recruit and retain a diverse workforce, recruiting firm Dice reports men earned nearly $10,000 dollars more than women on average in 2014.
SOURCE Arjuna Capital, Boston