Shareholder Vote and Proposal Details
shareholders overwhelmingly rejected a proposal to assess risks associated with its diversity, equity, and inclusion (DEI) practices, with over 98% voting against it during the annual meeting.
The proposal, submitted by the , a conservative think tank, cited potential litigation, reputational, and financial risks due to Costco's DEI initiatives, referencing a decision that banned affirmative action in college admissions.
Corporate Stance and Context
Costco's board unanimously recommended rejecting the proposal, emphasizing the importance of its commitment to respect and inclusion, and arguing that the proposed report would not yield meaningful information.
This stance contrasts with other major brands like , , and , which have either scaled back or reconsidered their DEI policies in light of recent political and legal developments.