Right To Act By Written Consent | Interfaith Center on Corporate Responsibility

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>Church & Dwight Co., Inc.</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Corporate Governance </p>
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<strong>Focus Area:</strong>
<p>Shareholder Rights </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p><strong>RESOLVED</strong>: Shareholders request that the board of directors take the necessary steps to permit written consent by the shareholders entitled to cast the minimum number of votes that would be necessary to authorize an action at a meeting at which all shareholders entitled to vote thereon were present and voting (without any unnecessary restriction based on length of stock ownership or the method by which Church & Dwight shareholders hold their CHD shares). This includes shareholder ability to initiate any appropriate topic for written consent.</p>
<p><strong>SUPPORTING STATEMENT</strong>:</p>
<p dir=”ltr”>Church & Dwight shareholders have a particular need for the right to act by written consent because it is considerably more difficult than necessary for CHD shareholders to call for a special shareholder meeting. </p>
<p dir=”ltr”>Shareholders acting by written consent and calling for a special shareholder meeting are 2 means that shareholders of a company can use to put forth a proposal on a timely basis without waiting for the annual shareholder meeting. </p>
<p dir=”ltr”>Delaware law considers it reasonable for 10% of shareholders to call for a special shareholder meeting – yet CHD made the threshold 25% of shareholders based on all shares outstanding and then excluded all CHD shares that were not long-term shares, which excludes the CHD shares most likely to call for a special shareholder meeting.</p>
<p dir=”ltr”>Acting by written consent is hardly ever used by shareholders but the main point of having a right to act by written consent is that it gives shareholders greater standing to engage effectively with management when CHD is underperforming. </p>
<p dir=”ltr”>Now could be a good time for this proposal due to the long-term underperformance of CHD stock. CHD stock was at $103 in 2021 and at only $84 in late 2025 despite a robust stock market. If CHD directors and management know that CHD shareholders can act by written consent they will have a greater incentive to perform better.</p>

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<h3>Lead Filer</h3>
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<div class=”views-field views-field-nothing”><span class=”field-content”> John Chevedden</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Chevedden Corporate Governance</span></div>
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