Feb 24 (Reuters) - Colgate-Palmolive ( CL ) told the
National Legal and Policy Center that it intends to ask
investors to vote against the conservative shareholder group's
proposal to remove DEI-related criteria in the company's
selection process for its board members, according to a letter
viewed by Reuters.
The NLPC's proposal comes as several companies including
Goldman Sachs ( GS ), Walmart ( WMT ), Target ( TGT ) and Meta
dropped or considered altering their diversity, equity
and inclusion (DEI) policies as U.S. President Donald Trump and
conservative groups in the country ramp up pressure on firms to
curtail these programs.
Companies added or beefed up their DEI programs starting in
2020 amid the Black Lives Matter movement, but they have rolled
back their DEI commitments over the past year as pressure
mounted from the Trump administration.
Colgate would join a small list of companies such as Costco
and Apple in sticking to their DEI policies
over the past year. The company said in its response to the NLPC
that about two-thirds of its net sales came from markets outside
the United States.
"It is important that our directors bring a broad range of
skills, experiences, perspectives and backgrounds to the Board,"
the company said in its response submitted to the NLPC on
Monday.
Colgate did not immediately respond to a Reuters request for
an independent comment on the matter.
Colgate in its 2025 proxy statement said that three of its
director nominees were "members of underrepresented
communities," but the NLPC stated that the company did not
explain what "underrepresented" meant.
Bloomberg News first reported on Colgate's response to the
NLPC.