Costco is facing pushback from a conservative think tank that wants the company to evaluate the risks associated with its diversity, equity, and inclusion (DEI) initiatives. The company's board of directors has unanimously voted to reject the shareholder proposal.
Costco is pushing back against a shareholder proposal urging the wholesale club operator to conduct an evaluation of any business risks posed by its diversity, equity, and inclusion practices. Investors were expected to vote on the recommendation during the company's annual meeting Thursday.
The National Center for Public Policy Research, a conservative think tank based in Washington, submitted the proposal, arguing that Costco's diversity, equity, and inclusion initiatives hold litigation, reputational, and financial risks to the company, and therefore financial risks to shareholders. The think tank has made a similar proposal to Apple, and like some American companies that have already scaled back or retreated from their diversity policies, cited a Supreme Court decision in July 2023 that outlawed affirmative action in college admissions. Costco officials could not be reached for comment on the proposal. But Costco's board of directors voted unanimously to ask shareholders to reject the motion. The board said it believes 'our commitment to an enterprise rooted in respect and inclusion is appropriate and necessary. The report requested by this proposal would not only be unnecessary but also potentially harmful,' The board argued that the proposal mischaracterizes the company's DEI efforts and that a comprehensive evaluation is not warranted. They emphasized the importance of fostering a diverse and inclusive workplace for both employees and members. Costco maintained that its DEI initiatives are aligned with its values and contribute to its long-term success
Costco Shareholder Proposal DEI Diversity Equity Inclusion Risk Assessment Conservative Think Tank National Center For Public Policy Research Board Of Directors
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Costco Rejects Shareholder Proposal Scrutinizing DEI PracticesCostco is pushing back against a shareholder proposal that calls for an evaluation of the business risks associated with its diversity, equity, and inclusion (DEI) initiatives. The company's board of directors believes its commitment to DEI is essential and has recommended shareholders reject the proposal.
Read more »
Costco Rejects Shareholder Proposal Targeting DEI PracticesCostco Wholesale is facing a backlash from conservative shareholders who are calling for the company to evaluate the risks associated with its diversity, equity, and inclusion initiatives. The company's board of directors has unanimously rejected the proposal, arguing that its commitment to DEI is essential for its success.
Read more »
Costco Defends DEI Programs Amidst Shareholder Proposal and Corporate BacklashCostco is facing a shareholder proposal that seeks to evaluate the financial risks associated with its diversity, equity, and inclusion (DEI) initiatives. The proposal comes as a wave of companies, emboldened by a Supreme Court ruling against affirmative action, scale back their DEI programs. Costco's board of directors, however, is urging shareholders to reject the proposal, arguing that their commitment to DEI is essential to their business success.
Read more »
Costco Defends DEI Policies Against Shareholder ProposalCostco Wholesale rejected a shareholder proposal calling for a review of the business risks associated with its diversity, equity, and inclusion (DEI) policies. The company remains committed to its DEI initiatives despite calls from some shareholders and conservative groups to scale back such programs.
Read more »
Costco Defends DEI Practices Against Shareholder ProposalCostco is facing a shareholder proposal that calls for an evaluation of the business risks associated with its diversity, equity, and inclusion (DEI) programs. The company's board of directors is recommending shareholders reject the proposal, arguing that their commitment to DEI is essential and that the requested report wouldn't provide meaningful insights.
Read more »
Costco Board Defends DEI Programs Against Shareholder ProposalCostco's Board of Trustees is urging shareholders to reject a proposal by the National Center for Public Policy Research to eliminate the company's diversity, equity, and inclusion (DEI) programs. The Board argues that DEI initiatives are essential to the company's success, fostering a culture of inclusion and attracting top talent. The National Center, however, claims DEI programs are discriminatory and pose financial risks.
Read more »