Costco shareholders reject call for review of diversity programs

Costco shareholders reject call for review of diversity programs


A truck driver climbs into a semitruck at a Costco Wholesale location in Hawthorne, California, on March 14, 2020.

Patrick T. Fallon | Bloomberg | Getty Images

Costco Wholesale shareholders voted strongly against a proposal requesting a report on the risks of maintaining its diversity and inclusion initiatives, the U.S. company said on Thursday, sending a message running counter to the intense scrutiny many such corporate policies face.

The vote was seen as an early test of investor views about the value of corporate diversity, equity and inclusion (DEI) programs, which many companies added or beefed up starting in 2020 amid the Black Lives Matter movement.

More than 98% of the shareholders voted against it at the annual meeting, Costco said.

Last year, shareholder resolutions at U.S. corporations looking to counter DEI programs and other corporate social considerations garnered less than 2% support on average.

Lindsey Stewart, director of stewardship research and policy for Morningstar Sustainalytics, said the similar result at Costco “suggests that even if the political environment on inclusion in the workplace is changing, investors’ low propensity to support anti-DEI resolutions is thus far unchanged.”

U.S. President Donald Trump has issued an executive order that directed government agency chiefs to dismantle DEI policies at federal agencies, federal contractors and in the private sector.

He has also suggested that some companies will face investigations and legal action if their programs are deemed to be discriminatory.

The proposal at Costco came from the National Center for Public Policy Research, which describes itself as a free-market think tank and had asked the company to assess the potential business risks related to its DEI policies.

The group, which did not immediately comment on the result, contended that such efforts could pose legal, reputational, and financial risks, potentially impacting shareholder returns.

Costco’s board, which urged votes against the proposal, said the report would not provide “meaningful additional information” to shareholders.

Companies such as Meta Platforms, Amazon.com, JPMorgan Chase and Boeing have modified their initiatives, scrapped their DEI goals or ended participation in the Human Rights Campaign Foundation’s corporate equity index. But only now are most shareholders getting a chance to weigh in on such matters.

The membership-only retailer has more than 300,000 employees globally and about 219,000 in the United States, according to its 2024 annual report.



Source

Trump administration puts on hold .1 billion in Chicago infrastructure projects, Vought says
Politics

Trump administration puts on hold $2.1 billion in Chicago infrastructure projects, Vought says

Russ Vought, Director of the US Office of Management and Budget (OMB), speaks at the National Conservative Convention in Washington D.C., Sept. 3, 2025. Dominic Gwinn | Afp | Getty Images The Trump administration has put on hold $2.1 billion in Chicago infrastructure projects, Office of Management and Budget Director Russell Vought said in a […]

Read More
Putin warns of ‘new stage of escalation’ if U.S. supplies long-range missiles to Ukraine
Politics

Putin warns of ‘new stage of escalation’ if U.S. supplies long-range missiles to Ukraine

Russian President Vladimir Putin speaks during an annual plenary session of the Valdai Discussion Club, on October 2, 2025 in Sochi, Russia. Contributor | Getty Images News | Getty Images Russian President Vladimir Putin warned the potential supply of long-range missiles to Ukraine would mark a “completely new stage of escalation” between Washington and Moscow. […]

Read More
Apple removes ICE tracking apps after Trump AG pressure
Politics

Apple removes ICE tracking apps after Trump AG pressure

Apple CEO Tim Cook walks to attend the State Banquet at Windsor Castle, in Windsor, Britain, Sept. 17, 2025. Kevin Lamarque | Reuters Apple on Thursday night said that it was removing apps from its App Store that can be used to anonymously report sightings of U.S. Immigration and Customs Enforcement agents. The move came […]

Read More