Costco Wholesale Corporation's shareholders voted overwhelmingly against a proposal requesting a report on the financial risks associated with the company's diversity, equity, and inclusion (DEI) initiatives. Over 98% of shareholders rejected the proposal at the annual meeting held on January 23.
The proposal, brought by the National Center for Public Policy Research, contended that DEI efforts could pose legal, reputational, and financial risks. However, Costco's board had unanimously recommended against the proposal, stating it would not provide meaningful additional information to shareholders.
This decisive vote signals strong internal support for Costco's existing DEI policies, contrasting with some other companies that have scaled back similar initiatives. It reinforces the company's public stance that a diverse workforce contributes to its business success and 'treasure hunt' merchandise offerings.
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