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Apple’s board of directors urged shareholders to reject a proposal that would require the company to end its diversity, equity and inclusion (DEI) programs, arguing the move would be “unnecessary.”
The iPhone maker’s defense of its DEI programs comes as several major corporations are rolling back the so-called “woke” initiatives following a 2023 Supreme Court ruling against affirmative action and amid public pressure from activists.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 236.85 | -5.85 | -2.41% |
A proxy filing released ahead of Apple’s 2025 annual meeting shows The National Center for Public Policy Research, a free-market think tank and activist shareholder, had proposed Apple ditch its DEI efforts, saying such programs put the company at greater risk of being sued for discrimination.
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But Apple recommended shareholders vote against the proposal, stating that it was “unnecessary as Apple already has a well-established compliance program and the proposal inappropriately attempts to restrict Apple’s ability to manage its own ordinary business operations, people and teams, and business strategies.”
Panelists Jennifer Sey and Daniel Cameron discuss how major companies are walking back DEI and environmental, social and governance programs on ‘The Bottom Line.’
DEI often involves prioritizing race, gender or sexuality in hiring, training and programming, and the initiatives have been criticized by conservatives as divisive and discriminatory. Proponents of DEI say these efforts address racial divides and provide support for groups who have been historically marginalized.
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DEI policies have faced increased scrutiny over the past year or so, leading at least a dozen major U.S. companies and hundreds of universities to roll back these commitments, including Walmart, Meta and Ford.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 91.64 | -1.35 | -1.46% |
| META | META PLATFORMS INC. | 615.86 | +5.14 | +0.84% |
| F | FORD MOTOR CO. | 9.65 | -0.09 | -0.92% |
But Apple is not alone in standing firmly behind its DEI efforts. A majority of America’s largest companies still have such programs in place, and Costco also recently defended its DEI policies while urging its own shareholders to reject a proposal that would end them.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 936.94 | +9.57 | +1.03% |
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FOX Business’ Kristine Parks contributed to this report.