Apple has opposed a shareholder proposal to remove its DEI programs, as first reported by TechCrunch. Meanwhile, Meta and Amazon have joined the list of companies that have scaled back their DEI programs in response to anti-DEI pressure. Apple opposes anti-DEI Proposal Apple’s board of directors has opposed a proposal by the National Center for Public Policy Research (a conservative think tank) to “consider abolishing its Inclusion & Diversity program, policies, department, and goals.” In a proxy filing, Apple stated that the proposal was “unnecessary” as the company “already has
Costo is standing firm on its diversity, equity, and inclusion (DEI) commitments despite activist investors pushing for the company to make changes in line with those seen at Walmart, John Deere, and McDonald’s. Activist investors target DEI efforts Forbes reported that a proposal from a shareholder, put forward by a conservative think tank, challenged Costco to evaluate and openly share the harm linked with its DEI policies and goals. The proposal states that the firm DEI’s plans present financial, reputational, and litigation threats that could negatively affect shareholders. In the
This year, we’ve witnessed the ripple effects of the Supreme Court’s ruling against affirmative action in college admissions with mounting conservative pressure against DEI initiatives across industries—from retail and banking to venture capital and nonprofits. Amid these challenges, the stories that resonated most with you this year were those of resistance and resilience: stories about Black women securing capital, launching funds, and building unicorn companies. You loved the stories about employees holding their employers to account—in words and deeds—and the investors, influencers, and innovators raising the bar in their respective
A US appeals court has struck down Nasdaq’s diversity disclosure rules for companies listed on the stock exhange. The rules required companies to appoint women, racial minorities, or LGBTQ+ individuals to their boards or explain why they could not. The 5th Circuit Court ruled 9-8 that the proposal was not legal and that the Securities and Exchange Commission (SEC) had overstepped by approving Nasdaq’s rule. Court Rejects SEC’s Role in Diversity Mandate Nasdaq introduced a rule requiring companies to share board diversity data and include at least one director from
Walmart has recently decided to discontinue multiple diversity, equity, and inclusion (DEI) initiatives in its workplaces. With 1.6 million employees, Walmart is one of the world’s largest retailers, meaning its decision on DEI has significant consequences for all retailers and corporations. Walmart rolls back DEI This plan to phase out DEI efforts was initially made public by anti-DEI conservative activist Robby Starbuck. Posting on X, Starbuck said, “Walmart is ending their woke policies. Last week, I told execs at [Walmart] that I was doing a story on wokeness there. Instead,
Hollywood’s tightening budgets and declining support for diversity efforts have had a negative impact on projects by and for people of color, according to Charles D. King, founder and CEO of MACRO, one of the largest media companies centered on Black entertainment. Speaking at Bloomberg’s New Voices event, King discussed the industry’s economic challenges and highlighted how these factors have strained the viability of diverse storytelling in Hollywood. Job Cuts and Funding Challenges in an Evolving Industry With the shift in viewing habits towards streaming, coupled with rising production costs
Boeing Co. has disbanded its global Diversity, Equity, and Inclusion (DEI) team, signaling a shift in corporate strategy under new CEO Kelly Ortberg, according to Bloomberg. This decision aligns with Ortberg’s broader effort to revamp Boeing’s workforce as the company deals with financial setbacks and pressure from conservative critics. Strategic Workforce Cuts and Leadership Changes The dismantling of Boeing’s DEI department comes as Ortberg oversees a large restructuring plan aimed at stabilizing the aerospace giant’s finances. The company, which plans to cut 10% of its workforce, has been focused on
While debates over diversity policies in corporate America intensify, new data shows that white male CEOs have been among the biggest financial beneficiaries of these initiatives. Farient Advisors, a compensation consulting firm, reports that 28 CEOs received diversity-linked bonuses last year, with white men making up the majority of recipients. Collectively, these executives earned nearly $5 million for achieving diversity, equity, and inclusion (DEI) goals. Top CEOs See Six-Figure Diversity Payouts American Airlines CEO Robert Isom topped the list with a $520,000 bonus tied to the airline’s DEI targets. He
Facing rising scrutiny and backlash, more than half of companies are changing how they present their diversity, equity, and inclusion (DEI) initiatives, according to recent data from the Conference Board. A survey of over 60 executives revealed that 50% have adjusted DEI terminology to reduce an emphasis on racial diversity, with 20% more considering similar changes. Notably, “equity” is frequently being omitted as it’s perceived as the most controversial term. A Response to Legal and Social Pressures This shift follows increased pressure from conservative activist groups and legal challenges. The
Two of the most influential Black business leaders in the US are calling on companies to rethink scaling back their diversity, equity, and inclusion (DEI) efforts, according to CNN. Ken Frazier, who served as CEO of Merck from 2011 to 2021, was the first Black CEO of a major pharmaceutical company. Ken Chenault, CEO of American Express from 2001 to 2018, was only the third Black CEO of a Fortune 500 company. The leaders warned that reducing DEI efforts could limit opportunities for future generations of leaders facing racial and
