Disney Removes DEI Initiatives Amid Federal Rollbacks
Disney (DIS) has eliminated two diversity, equity, and inclusion (DEI) programs from its reporting, following the Trump administration's executive orders dismantling federal DEI initiatives.
Removed Programs:
* "Reimagine Tomorrow": A digital platform amplifying underrepresented voices.
* "The Disney Look" appearance guidelines: Revised to promote a more inclusive environment.
Disney has not commented on whether these removals indicate a complete elimination of the respective DEI investments.
Industry Trends:
Disney's move aligns with a growing number of companies scaling back their DEI initiatives. Others, including Costco (COST) and Apple (AAPL), have maintained their commitment to DEI.
Political Backlash:
Disney's DEI pivot is particularly significant given its contentious battle over its special tax district in Florida. Governor Ron DeSantis seized control of the district after Disney opposed the state's "Don't Say Gay" law.
CEO's Perspective:
Disney CEO Bob Iger expressed his sensitivity to the perception of a "woke" agenda and emphasized the company's primary mission of entertainment. He stated that Disney's political involvement should be limited to issues that directly impact its business or employees.
Impact on Investing:
Investors should monitor the potential impact of these DEI adjustments on Disney's business and reputation, as well as the broader trend of companies navigating political and social issues.
Source:
Yahoo Finance