Proxy advisory firm Institutional Shareholder Services has recommended that Apple investors vote against a proposal to consider eliminating the tech giant’s diversity, equity and inclusion (DEI) policies, reports Reuters.
Apple’s disclosures offer shareholders sufficient information about its DEI policies and there have been no controversies or signs of discrimination against employee groups, ISS said. The company’s board has urged shareholders to reject the anti-DEI proposal, arguing it already has a compliance program in place and that the measure improperly seeks to limit its management of business operations, personnel and strategy.
DEI stands for diversity, equity, and inclusion. Nearly five years after major companies declared their commitment to diversity, equity and inclusion following the police killing of George Floyd, some are publicly pulling away from those commitments amid intense pressure from the political right, including President Trump.
In the past year, iconic brands including McDonald’s, Meta, Walmart, Harley-Davidson, John Deere and Lowe’s have rolled back DEI initiatives. And President Trump signed an executive order last week eliminating all federal DEI programs. The following day, he issued an additional presidential action that directed government agencies to go after “illegal private sector DEI preferences, mandates, policies, programs, and activities.”
Apple will hold its annual meeting on February 25.
ISS is an American proxy advisory firm. Hedge funds, mutual funds and similar organizations that own shares of multiple companies pay ISS to advise regarding share holder votes.
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