Costco shareholders reject anti-DEI proposal from "ultra-right" group

In their annual meeting on Thursday, January 23, 2025, Costco shareholders "overwhelmingly' rejected—with 98% of the vote—an anti-DEI proposal (which we previously described here) set forward by the National Center for Public Policy Research, which Value Edge Advisors describes as an "ultra-right" organization that's funded by right-wing groups like the Coors Foundation and has a history of filing anti-DEI lawsuits against various companies, including Starbucks, Nasdaq, and more. 

The resounding rejection of the anti-DEI proposal aligns with Costco's Board of Directors who, late last month, in the company's "Notice of Annual Meeting of Shareholders," responded to the proposal with a very strong, unanimous recommendation for the shareholders to vote AGAINST it.

The Seattle Times provides more information:

Since President Donald Trump was elected in November, companies have backed away from DEI initiatives. WalmartAmazon, Meta have all scaled back their policies. Companies like John Deere and Tractor Supply have eliminated roles and community outreach associated with its DEI programs.

Microsoft, JPMorgan Chase and Apple have notably joined Costco in standing against the trend . . .  Apple's board urged shareholders to reject a proposal from the Center for Public Policy Research similar to the one given to Costco shareholders.

And on Wednesday, JPMorgan Chase CEO Jamie Dimon said in an interview with CNBC that the bank wouldn't retreat from DEI initiatives despite potential pushback.

Thanks, Costco, for staying committed to DEI efforts!