Amid the current mood among Republican lawmakers to do away with DEI (diversity, equity, and inclusion) programs in government agencies, corporations, sports leagues, media companies, and education-related organizations, Apple’s shareholders had to make a decision of their own. A conservative think tank titled The National Center for Public Policy Research had bought what was probably one or two shares of Apple which gave it the right as a stockholder to request that investors vote on a proposal asking Apple to consider ending its DEI programs.
Continuing with its statement, The National Center for Public Policy Research points out that Apple has a “VP of Inclusion & Diversity” and contributes stockholder money to organizations that support DEI. According to its statement, the conservative think tank says that with 50,000 Apple employees as potential victims “of this type of discrimination,” Apple could be sued, and even if only a small fraction win, Apple could be on the hook for billions of dollars in payments.
“DEI poses litigation, reputational and financial risks to companies, and therefore financial risks to their shareholders, and therefore further risks to companies for not abiding by their fiduciary duties.”-The National Center for Public Policy Research
As it turns out, Apple stockholders are more aligned with the way Apple runs the company than the way the MAGA wing of the Republican Party wants the country to be run. The proposal asking Apple to consider ending its DEI programs was defeated. For The National Center for Public Policy Research, it was the second time that this proposal had been defeated by stockholders. Last month, the think tank was able to get a similar proposal voted on at Costco’s stockholder meeting and it was rejected.
Apple CEO Tim Cook promised President Trump that Apple will invest more in the U.S. over the next few years. | Image credit-Apple
