financetom
Business
financetom
/
Business
/
Disney tweaks DEI programs to focus on business outcomes, memo says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Disney tweaks DEI programs to focus on business outcomes, memo says
Feb 11, 2025 5:54 PM

(Reuters) -Walt Disney is changing its diversity, equity and inclusion (DEI) programs to focus more closely on business outcomes, according to a memo seen by Reuters.

The media giant joins several of the largest businesses in the U.S. responding to the Trump administration's efforts to dismantle DEI initiatives.

Disney's 2024 annual report, published in September, removed mentions of its "Reimagine Tomorrow" program, an online space for "amplifying underrepresented voices" that featured some of Disney's diversity, equality and inclusion commitments and actions.

The memo from Disney's chief human resources officer, Sonia Coleman, notes the "Reimagine Tomorrow" site will be rebranded as "MyDisneyToday." It will focus on how well the company attracts top talent, champions a culture where everyone belongs, creates and supports underserved communities.

"We create entertainment that appeals to a global audience," wrote Coleman. "And having a workforce that reflects the consumers we serve helps drive our business."

The criteria used to evaluate executive compensation also will change, Coleman wrote, to add a factor called "talent strategy," which evaluates how well leaders advance Disney's values. It replaces the objective of increasing the diversity and inclusion of executives and managers to "reflect the guests and audiences."

Disney's executive compensation is weighted 70% on achieving financial performance targets, and 30% against other performance factors, according to its most recent proxy filing.

Axios was the first to report details of the memo.

Disney has come under attack from conservatives who object to casting racially diverse and gay characters in its movies.

America First Legal, founded by U.S. President Donald Trump's deputy chief of staff for policy Stephen Miller, sent Disney's board of directors a letter asserting that Disney's efforts to boost diversity and inclusion had harmed the company's stock.

The company also became embroiled in a bitter feud with Florida Governor Ron DeSantis over a state law limiting classroom discussion of sexuality and gender, which critics brand as the "Don't Say Gay" law.

Amazon.com removed a reference to "inclusion and diversity" in its annual report filed last week, after it told employees in a December memo that it was winding down its programs as part of corporate America's broader retreat from such policies.

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 >
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Copyright 2023-2026 - www.financetom.com All Rights Reserved