Investors Ask Nike, FedEx and PepsiCo to End Relationships With the Washington Redskins

Firms worth a total $620 billion put pressure on brands to divest from racism


On Friday, three separate letters signed by 87 investment firms and shareholders worth a collective $620 billion asked Nike, FedEx and PepsiCo to terminate their business relationships with the NFL’s Washington Redskins unless the team agrees to change its controversial name.

Today (July 2), FedEx sent a statement to Adweek stating its position.

“We have communicated to the team in Washington our request that they change the team name.“

The move may raise eyebrows in that FedEx chairman, president and CEO Fred Smith is part owner of the team.

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