Investors Back Apple's Diversity, Equity and Inclusion Policies
Apple shareholders overwhelmingly rejected a proposal opposing the company's diversity, equity, and inclusion (DEI) policies at their annual meeting on Tuesday. The vote is a significant victory for Apple as it faces growing opposition to DEI initiatives in the United States.
The vote underscores the divergent views among investors on the value of DEI programs, which gained prominence after the Black Lives Matter movement in 2020. However, conservative resistance has led some companies, including Meta Platforms, Alphabet, and Amazon.com, to abandon their DEI goals.
Apple shareholders also voted against a proposal requesting a report assessing the risks associated with its use of artificial intelligence. All management proposals were approved.
Institutional Shareholder Services, an influential proxy advisory firm, recommended that investors support Apple's DEI policies, citing the company's transparency and lack of discrimination against employee groups.
The proposal opposing Apple's diversity policies originated from the National Center for Public Policy Research, a free-market think-tank. The organization had previously requested a similar report from Costco Wholesale, which was strongly rejected by shareholders in January.