Costco shareholders overwhelmingly rejected a proposal to report on risks associated with its diversity, equity, and inclusion policies. More than 98% voted against it during the annual meeting. The proposal was submitted by the National Center for Public Policy Research, arguing that DEI initiatives could pose legal, reputational, and financial risks to shareholder returns. Costco’s board opposed the resolution, stating it would not provide “meaningful additional information” to investors. Shareholder resolutions opposing DEI programs and corporate social initiatives in the U.S. averaged less than 2% support last year.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Costco shareholders overwhelmingly rejected a proposal to report on risks associated with its
00:07diversity, equity, and inclusion policies. More than 98% voted against it during their
00:12annual meeting. The proposal was submitted by the National Center for Public Policy Research,
00:18arguing that DEI initiatives could pose legal and financial risks to shareholder returns.
00:23Costco's board opposed the resolution, stating it would not provide meaningful additional
00:28information to investors. Shareholders' resolutions opposing DEI programs and
00:35corporate social initiatives in the U.S. averaged less than 2% support last year.