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- Disney shareholders reject anti-DEI proposal (businessinsider.com)
Disney Shareholders Overwhelmingly Reject Anti-DEI Proposal
Disney shareholders have resoundingly voted down a proposal urging the company to cease its participation in the Human Rights Campaign’s Corporate Equality Index. A preliminary tally shows only 1% of shareholders voted in favor of the proposal, which was put forth by the conservative think tank, the National Center for Public Policy Research. The final vote count will be released in a filing next week.
The proposal, presented at Disney’s annual shareholder meeting on Thursday, called for the company to abandon the Corporate Equality Index, a benchmark used to assess a company’s policies and practices related to LGBTQ+ inclusivity in the workplace. The National Center for Public Policy Research argued that taking “extreme positions” alienates customers and investors, urging Disney to return to a neutral stance.
Disney’s board of directors recommended shareholders vote against the proposal, stating in a proxy statement that the request lacked value for shareholders. The company has consistently achieved a perfect score on the Corporate Equality Index since 2007.
This recent vote follows similar rejections from shareholders at Costco and Apple, who also voted down proposals from the same think tank earlier this year. These votes come amid increased scrutiny of DEI programs, particularly following the executive order signed by former President Trump to end such programs in the federal government. While some companies have scaled back their DEI initiatives, others, including Disney, remain committed.
Disney’s stance on LGBTQ+ rights has drawn criticism, most notably from Florida Governor Ron DeSantis, following the company’s opposition to the controversial “Don’t Say Gay” bill. The ensuing conflict led to DeSantis restructuring and taking control of the Reedy Creek Improvement District, formerly a self-governing entity for Disney.
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- Disney shareholders reject anti-DEI proposal (businessinsider.com)