Abbott Laboratories

Cardiovascular Systems, Inc.
Abbott Park, Illinois
Pharmaceuticals Biotechnology and Life Sciences

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Abbott Laboratories, a pharmaceutical company, has ended its business relationship with the chairman of the Conservative Political Action Coalition (CPAC) after he criticized the public destruction of property condoned by Black Lives Matter (BLM). Abbott Laboratories scored a 90 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Abbott Laboratories increases the risk of dividing employees, alienating customers and harming shareholders. The company provides a benefits package for employees which covers transgender medical procedures for covered employees and dependents, including children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. The company forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Abbott is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. The company is a copper sponsor of Out & Equal and a corporate partner of the National LGBT Chamber of Commerce. The company requires its employees complete unconscious bias training and has donated to a Planned Parenthood Clinic. For these reasons, Abbott Laboratories receives a High Risk rating.

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Board Bias

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CEO of Abbott Laboratories

Robert B. Ford

Robert B. Ford

Summary:

Headquartered in Abbott Park, Illinois, Abbott Laboratories is a member of the Fortune 250 operating in the Pharmaceuticals Biotechnology and Life Sciences industry. Robert B. Ford and Robert B. Ford serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $363,795 to Republican causes and $80,575 to Democratic causes. Under their tenure, Abbott Laboratories currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:

$363,795

$80,575

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
4/28/23GovernanceKenneth SteinerRequest that the Board Chairman be an Independent DirectorAgainst30.50%
4/28/23GovernanceThe Province of Saint Joseph of the Capuchin Order and Proxy ImpactPrepare Annual Report Disclosing Policies, Procedures, and Expenditures.Against23.00%
4/28/23GovernanceThe Shareholder Association for Research & EducationFinancial Performance Metric for Senior Level Executives Include Legal and Compliance CostsAgainst14.40%
4/28/23GovernanceJohn CheveddenLower Ownership Threshold for Calling Special MeetingsAgainst4.30%
4/29/22GovernanceNYC Comptroller's OfficeAdopt Policy on 10b5-1 Trading PlansAgainst48.76%
4/29/22GovernanceJohn CheveddenReduce Ownership Threshold for Shareholders to Call Special MeetingAgainst47.15%
4/29/22SocialUnitarian Universalist Assoc.Report on Lobbying Payments and PolicyAgainst34.52%
4/29/22GovernanceKenneth SteinerRequire Independent Board ChairAgainst27.75%
4/29/22SocialThe Shareholder CommonsReport on Public Health Costs of Antimicrobial ResistanceAgainst11.51%
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