(NewsNation) — Costco shareholders resoundingly voted down a proposal that urged management to look into the business risk of diversity, equity and inclusion (DEI) initiatives.
The National Center for Public Policy Research, a conservative think tank, submitted the proposal, arguing that Costco’s DEI initiatives hold “litigation, reputational and financial risks to the company, and therefore financial risks to shareholders.”
Shareholders voted 98% against this move, a divergence from the current movement of the White House and several major retailers.
President Donald Trump has already issued executive orders ending DEI in the federal government and affirmative action in federal contracting.
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He has also suggested that companies may face investigations if their programs are deemed to be discriminatory in nature.
Costco’s board of directors said it believed their “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.”
Businesses like Amazon, Meta and McDonald’s are among companies to have backed up or ended their DEI initiatives.
On Friday, Target announced it was ending various programs and its DEI goals.
