Apple Faces Shareholder Pushback on Diversity Initiatives

Apple shareholders are anticipated to reject a proposal urging the company to end diversity programs. The proposal, from a conservative think tank, argues these initiatives pose financial and legal risks. Despite facing criticism and potential legal pressures, Apple defends its diversity commitment as vital to its business success.

Apple shareholders are likely to dismiss a proposal encouraging the tech giant to discontinue its diversity programs. This move, spearheaded by the conservative National Centre for Public Policy Research, aligns with a trend against diversity, equity, and inclusion (DEI) initiatives criticized by former President Donald Trump.

The proposal follows a similar rejection at Costco's recent meeting. It argues Apple's diversity efforts conflict with recent legal rulings and could lead to discrimination lawsuits. The group speculates about 50,000 potential claims, but Apple maintains that diversity strengthens its USD 3.7 trillion market value.

Echoing similar legal challenges against other companies, Florida Attorney General's lawsuit against Target illustrates the perceived risks. Nonetheless, Apple stands by its ethical business practices, as reflected in its diversity report stating a predominantly white and Asian male workforce, a common tech industry trend encouraging diversity efforts.

(With inputs from agencies.)