Institutional Shareholder Services (ISS), a prominent proxy advisory firm, recommended on Friday that Apple investors vote against a proposal to remove the company’s diversity, equity, and inclusion (DEI) policies. ISS argued that Apple’s disclosures provide shareholders with adequate information regarding its DEI initiatives, with no controversies or evidence of discrimination against any employee groups.
Apple’s board also urged shareholders to reject the proposal, asserting that it already has a robust compliance program in place. The board further argued that the proposal would unreasonably limit the company’s ability to manage its operations, personnel, and overall business strategy.
The annual meeting, where the vote will take place, is scheduled for February 25. Apple did not respond immediately to requests for comment.
In recent years, large U.S. corporations, including Meta, Alphabet, and Amazon, have faced increasing pressure to abandon their DEI initiatives, especially in the wake of conservative pushback and a 2023 U.S. Supreme Court ruling that struck down affirmative action in college admissions.
The proposal against Apple’s diversity policies was put forth by the National Center for Public Policy Research, a free-market think tank, which had also requested that Costco Wholesale evaluate the risks of maintaining its DEI programs. However, shareholders at Costco overwhelmingly rejected the proposal in January.
