Costco Board Pushes Back Against Anti-DEI Activists
A group of Costco shareholders, emboldened by the Supreme Court’s continued assault on the equal protection clause of the 14th Amendment, called on the company’s board to “conduct an evaluation and publish a report” on the risks involved in maintaining their DEI program, which these shareholders called “illegal discrimination” against employees who are “white, Asian, male or straight”. The board responded with a recommendation to vote against this proposal:
Our Board has considered this proposal and believes that our commitment to an enterprise rooted in respect and inclusion is appropriate and necessary. The report requested by this proposal would not provide meaningful additional information to our shareholders, and the Board thus unanimously recommends a vote AGAINST this proposal.
Our success at Costco Wholesale has been built on service to our critical stakeholders: employees, members, and suppliers. Our efforts around diversity, equity and inclusion follow our code of ethics:
For our employees, these efforts are built around inclusion – having all of our employees feel valued and respected. Our efforts at diversity, equity and inclusion remind and reinforce with everyone at our Company the importance of creating opportunities for all. We believe that these efforts enhance our capacity to attract and retain employees who will help our business succeed. This capacity is critical because we owe our success to our now over 300,000 employees around the globe.
But the board then went further, blaming these shareholders for wasting their time and resources:
The proponent professes concern about legal and financial risks to the Company and its shareholders associated with the diversity initiatives. The supporting statement demonstrates that it is the proponent and others that are responsible for inflicting burdens on companies with their challenges to longstanding diversity programs. The proponent’s broader agenda is not reducing risk for the Company but abolition of diversity initiatives.
This is the way. The whole shareholder proposal and the board’s response is worth reading. (via @heartwoodandsteel.bsky.social)
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