Summary
Costco’s board rejected a shareholder proposal to end its diversity, equity, and inclusion (DEI) policies, arguing they foster respect, innovation, and cultural alignment with customers and employees.
Shareholders claimed DEI could lead to lawsuits citing “illegal discrimination” against white, Asian, male, or straight employees, referencing legal cases like Students for Fair Admissions v. Harvard.
Costco countered that its DEI efforts comply with the law and enhance its culture, rejecting claims of legal risk.
The proposal will be voted on at Costco’s January 23 shareholder meeting.
Okay… but “Shareholders” means just one group of its many shareholders. It’s not like they are rejecting the consensus of their shareholders or something.
I could buy some shares and then send them a letter suggesting they leave the wholesale food market and they could reject that proposal.