financetom
Business
financetom
/
Business
/
Apple's board recommends shareholders vote against proposal to eliminate diversity programs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Apple's board recommends shareholders vote against proposal to eliminate diversity programs
Jan 11, 2025 5:36 PM

Jan 11 (Reuters) - Apple's ( AAPL ) board of directors

recommended investors vote against a shareholder proposal to

abolish the company's Diversity, Equity, and Inclusion (DEI)

programs, according to a proxy filing from the company.

The National Center for Public Policy, a conservative think

tank, submitted a proposal that the company consider abolishing

its "Inclusion & Diversity program, policies, department and

goals."

The proposal cited recent Supreme Court decisions, and made

the argument that DEI poses "litigation, reputational and

financial risks to companies" and could make Apple ( AAPL ) more

vulnerable to lawsuits.

Apple ( AAPL ) responded that it had a well-established compliance

program and the proposal was unnecessary. It added that the

shareholder proposal was an inappropriate attempt to micromanage

Apple's ( AAPL ) business strategy.

"Apple ( AAPL ) is an equal opportunity employer and does not

discriminate in recruiting, hiring, training, or promoting on

any basis protected by law", the iPhone maker said in the

filing. The news was first reported by TechCrunch.

Several major companies including Meta and Amazon ( AMZN )

are winding down diversity programs ahead of Republican

Donald Trump's return to the U.S. presidency as conservative

opposition to such initiatives grows louder.

Conservative groups have denounced DEI programs and

threatened to sue companies over them, emboldened by a U.S.

Supreme Court ruling in 2023 that struck down affirmative action

in university admissions decisions.

The changes show how some of America's biggest businesses

have reacted to a larger conservative backlash against diversity

initiatives, which multiplied after widespread protests

following the police killings of George Floyd and other Black

Americans in 2020.

(Reporting by Chandni Shah in Bengaluru)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved