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Apple investors reject proposal against diversity policies
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Apple investors reject proposal against diversity policies
Feb 25, 2025 9:31 AM

Feb 25 (Reuters) - Apple ( AAPL ) shareholders rejected an

outside investor proposal against its diversity, equity and

inclusion policies at an annual meeting on Tuesday, handing a

major victory to the tech giant as opposition against such

efforts gains traction in the U.S.

The vote was a test of shareholder views about the value of

DEI programs, which many companies added or beefed up starting

in 2020 amid the Black Lives Matter movement.

A growing conservative backlash has pushed major U.S.

companies, including Meta and Alphabet, to

drop DEI initiatives ahead of and following Donald Trump's

return to the U.S. presidency. Trump has criticized corporate

diversity programs, suggesting the U.S. Department of Justice

could investigate whether they violate the law.

Apple ( AAPL ) shareholders also voted against a proposal

asking the company to prepare a report assessing the risks of

its work with AI, while all management proposals were approved,

a preliminary tally of the vote count showed.

Earlier this month, proxy advisory firm Institutional

Shareholder Services recommended that investors back Apple's ( AAPL ) DEI

policies, saying the company already offers sufficient

information about them and that there have been no controversies

or signs of discrimination against employee groups.

Apple ( AAPL ) shareholders in the past have rejected proposals that

would have required the company to disclose more about racial

and gender pay gaps. On Tuesday, CEO Tim Cook said Apple ( AAPL ) has

never had quotas or targets in its diversity programs.

"As the legal landscape around these issues evolves, we may

need to make some changes to comply, but our North Star of

dignity and respect for everyone and our work to that end will

never waver," Cook said.

The proposal against Apple's ( AAPL ) diversity policies was

submitted by the National Center for Public Policy Research,

which describes itself as a free-market think-tank.

The same group had asked Costco Wholesale to report on the

risks of maintaining its diversity and inclusion initiatives.

The membership-only retailer's shareholders voted strongly

against the proposal at a meeting in January.

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