Costco Board Urges Shareholders to Reject Calls to End DEI Programs
Several large U.S. companies ended their DEI programs in 2024.
By Jack Phillips
12/29/2024 Updated: 12/29/2024
Costco’s board of directors has encouraged shareholders to vote to support its “diversity, equity, and inclusion” (DEI) program after it received a proposal to reject the practice.
The National Center for Public Policy, a conservative think tank, had urged Costco’s shareholders and board to strike DEI because it promoted discriminatory practices, according to the Kirkland, Washington-based retailer in a statement to shareholders.
Several companies, including Tractor Supply Co., Harley Davidson, John Deere, Lowes, and others, have announced they will repeal their DEI policies after facing pushback from conservatives and lawmakers.
In 2024, a number of universities—including the Massachusetts Institute of Technology, Harvard University, and the University of Michigan—have ended their prior practices of soliciting DEI statements for hiring and promotions.
“It’s clear that DEI holds litigation, reputational and financial risks to the Company, and therefore financial risks to shareholders,” the National Center for Public Policy said in its proposal to Costco, according to the statement. “With 310,000 employees, Costco likely has at least 200,000 employees who are potentially victims of this type of illegal discrimination because they are white, Asian, male or straight,” it added.
Costco’s board urged its shareholders to reject the group’s proposal.
“Among other things, a diverse group of employees helps bring originality and creativity to our merchandise offerings, promoting the ‘treasure hunt’ that our customers value,” Costco said in its proxy statement to its investors. “We believe (and member feedback shows) that many of our members like to see themselves reflected in the people in our warehouses with whom they interact.”
The proxy statement to its investors was uploaded on Costco’s website on Dec. 26, according to an Epoch Times review.
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READ MORE: https://www.theepochtimes.com/us/costco-board-urges-shareholders-to-reject-calls-to-end-dei-programs-5783316?ea_src=frontpage&ea_cnt=a&ea_med=top-news-4-top-stories-0-title-0
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