Institutional Shareholder Services (ISS), an advisory firm helping investors navigate corporate decisions., has recommended that Apple shareholders vote against a proposal aimed at reconsidering the company’s Diversity, Equity, and Inclusion (DEI) policies. The proposal was submitted by the National Center for Public Policy Research, a conservative think tank that has been critical of DEI initiatives in corporate settings.
ISS stated that Apple shares enough details about its DEI efforts and hasn’t faced major issues or discrimination claims. They also pointed out that DEI programs are common in big companies and play a key role in workplace strategy.
Apple’s board of directors has also urged shareholders to oppose the proposal. Apple’s board said the company already has solid fairness and inclusion measures and believes the proposal would unnecessarily disrupt its operations, staff, and strategy.
This debate reflects a broader trend in the U.S., where some companies have scaled back their DEI efforts due to increasing political and legal challenges. For instance, a 2023 U.S. Supreme Court ruling ended affirmative action in college admissions, which has encouraged some groups to push back against corporate DEI initiatives. Other major companies like Meta (Facebook’s parent company), Alphabet (Google’s parent company), and Amazon have also faced similar scrutiny.
The same group behind this proposal recently made a similar request at Costco, asking the retailer to evaluate risks associated with its DEI policies. However, Costco’s shareholders overwhelmingly rejected that proposal during a January meeting.
Apple’s shareholders will vote on this issue during the company’s annual meeting on February 25, 2025.
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