financetom
Technology
financetom
/
Technology
/
Apple shareholders vote to keep its diversity policies
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Apple shareholders vote to keep its diversity policies
Feb 25, 2025 5:02 PM

(Reuters) -Apple shareholders voted to keep the tech giant's diversity, equity and inclusion policies on Tuesday, a win for management which had opposed efforts by a conservative group to scrap the program.

The vote at the iPhone maker's annual meeting was seen as 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 DEI programs as discriminatory and suggested the U.S. Department of Justice could investigate whether such efforts violate the law.

The National Center for Public Policy Research, which describes itself as a free-market think-tank, had submitted the proposal titled "Request to Cease DEI Efforts" to the shareholder meeting. The proposal was defeated, with 210.45 million votes for it and 8.84 billion votes against it.

Proponents of the proposal argued that recent legal changes meant Apple would see an increase in discrimination cases if it continued DEI policies. Apple said it had an active oversight effort to avoid legal risks and that the proposal inappropriately restricted management.

While Apple discloses diversity data about its employee base, the company did not set targets or quotas. Many of its DEI efforts are in the form of programs such as a racial justice initiative under which it has provided support to historically Black colleges and universities in the U.S.

Apple also carries out DEI efforts outside of the U.S., such support for teaching coding skills to indigenous populations in Mexico and working with an Aboriginal community-led nonprofit pursuing criminal justice reform in Australia.

Apple shareholders have in the past rejected proposals that would have required the company to disclose more about racial and gender pay gaps.

Apple CEO Tim Cook said at Tuesday's meeting the company's "strength has always come from hiring the very best people and then providing a culture of collaboration, one where people with diverse backgrounds and perspectives come together to innovate."

But Cook added that "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."

The same group had asked Costco Wholesale to report on the risks of maintaining its DEI initiatives. The membership-only retailer's shareholders voted strongly against the proposal at a meeting in January.

On Monday, Apple highlighted its spending in the United States, saying it planned $500 billion in investments in the next four years, drawing praise from Trump days after media reported that Cook had met with the president.

Apple shareholders also voted against a proposal asking the company to prepare a report assessing the risks of its work with AI, though the proposal got the most votes of any shareholder effort. It received 1.04 billion "for" votes and 7.96 billion "against" votes.

All Apple management proposals, including a "say on pay" provision, were approved.

Cook said on Tuesday that Apple would be the biggest customer of a Taiwan Semiconductor Manufacturing Co factory in Arizona that Trump helped bring to the United States during his first term.

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 >
This Is What Whales Are Betting On Unity Software
This Is What Whales Are Betting On Unity Software
Sep 6, 2024
Whales with a lot of money to spend have taken a noticeably bullish stance on Unity Software ( U ). Looking at options history for Unity Software ( U ) we detected 12 trades. If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with...
No link between mobile phones and brain cancer, WHO-backed study says
No link between mobile phones and brain cancer, WHO-backed study says
Sep 6, 2024
LONDON (Reuters) -There is no link between mobile phone use and an increased risk of brain cancer, according to a new World Health Organization-commissioned review of available published evidence worldwide. Despite the huge rise in the use of wireless technology, there has not been a corresponding increase in the incidence of brain cancers, the review, published on Tuesday, found. That...
Colombia prosecutors open investigation into Pegasus spy software purchase
Colombia prosecutors open investigation into Pegasus spy software purchase
Sep 6, 2024
BOGOTA (Reuters) - Colombia's attorney general on Thursday said in a statement that it has opened an investigation into the alleged purchase and illegal use of Pegasus spy software. The decision comes after a televised broadcast from President Gustavo Petro, who said a unit in the country's national police bought the software off the books using $11 million in cash....
GRAPHIC-Foreigners retreat from Asian equities on doubt over tech valuations
GRAPHIC-Foreigners retreat from Asian equities on doubt over tech valuations
Sep 6, 2024
Sept 4 (Reuters) - Overseas investors aggressively withdrew from Asian tech stocks in August, as they turned pricey after their recent rally and doubts emerged about the profitability of AI investments. According to LSEG data, foreigners sold a net $3.8 billion worth of regional shares in South Korea, India, Taiwan, Indonesia, Vietnam, Thailand, and the Philippines last month, after two...
Copyright 2023-2025 - www.financetom.com All Rights Reserved