Annual shareholder meeting results and company announcements

Costco Shareholders Overwhelmingly Reject DEI Review Proposal by National Center for Public Policy Research

Jan 24, 2025, 05:15 AM

Costco Wholesale Corp. shareholders overwhelmingly rejected, by a vote of over 98%, a proposal to evaluate the business risks associated with the company's diversity, equity, and inclusion (DEI) practices. The proposal, submitted by the National Center for Public Policy Research, a conservative think tank, argued that Costco's DEI initiatives pose litigation, reputational, and financial risks to the company. However, the strong shareholder support for Costco's current DEI policies reflects a contrast with other major U.S. companies such as Walmart, McDonald's, and John Deere, which have scaled back their DEI initiatives amid political pressures. Costco's board of directors had unanimously recommended rejecting the proposal, emphasizing that their commitment to an inclusive enterprise is both appropriate and necessary. This decision by Costco shareholders comes in the context of recent actions by the Trump administration to dismantle DEI programs across federal agencies and potentially target private sector companies.