Walmart & Netflix Shareholders Reject Anti-DEI Proposals

US President Donald Trump’s campaigns to remove DEI initiatives are becoming widespread across companies in the US.

Shareholders at Walmart and Netflix have voted to reject anti-DEI proposals brought by a conservative shareholder group, with resolutions brought at each company’s annual meeting receiving less than 1% shareholder support.

The votes are part of the latest in a series of anti-DEI proposal rejections at major US companies, with similar results occurring at Apple, Amazon, Deere and Goldman Sachs.

The launch of the proposals follow a series of moves by US companies and investors to pull back on DEI programmes and policies.

This DEI pullback also aligns with the Supreme Court recent ruling that struck down Harvard’s use of race-based affirmative action criteria in college admissions.

Walmart’s anti-DEI dispute

In its resolution concerning Walmart, the National Centre for Public Policy Research (NCPPR) acknowledged that the company had recently scaled back certain DEI efforts.

The company has been called out for deciding not to renew its Racial Equity Centre, re-evaluating supplier diversity programmes and discontinuing the term “DEI”. 

However, the conservative shareholder group claimed these actions only followed threats of a public campaign by activist Robby Starbuck.

Walmart’s resolution called on the board to publish a report “explaining why it apparently took an external threat of public exposure of Walmart’s policies and practices for Walmart to revise its DEI initiatives".

“In addition to concerns about the time it took Walmart to revise its DEI programmes, a major concern for Walmart shareholders is that value-destroying DEI initiatives are merely being repackaged rather than eliminated,” said the NCPPR.

In a proxy statement, Walmart said: "One of our core values is respect for the individual.

"We work to create a culture where our customers feel welcome and our associates feel like they belong and their contributions are valued.

"We want our customers to be excited to shop with us and our associates to see us as the best place to work and to build a career.

"We believe fostering this type of culture among our associates, customers, suppliers and communities creates value for our business."

Netflix’s DEI disputes

The resolution concerning Netflix, also submitted by the NCPPR, referenced the US Supreme Court’s ruling in the Harvard case and urged the board to issue a report evaluating how the company’s “affirmative action initiatives” might expose it to discrimination-related risks. 

The resolution argued that Netflix “apparently continues to practise affirmative action,” pointing to examples such as its support for:

• The Black Economic Development Fund
• Deposits in Black-owned banks
• Procurement from underrepresented suppliers
• Investment in the Netflix Fund for Creative Equity.

Netflix has not immediately responded to a request for comment.

The wider DEI landscape

The response from Walmart and Netflix’s shareholders reflects 

Apple has remained firm in its support for DEI, with shareholders recently rejecting a proposal to dismantle these initiatives. 

The board argued that eliminating DEI would hinder Apple's ability to manage its operations and workforce effectively.

“We strive to create a culture of belonging where everyone can do their best work,” Apple said in a proxy statement.

Costco has likewise resisted calls to retreat from DEI. 

Shareholders overwhelmingly rejected a proposal to assess the risks of maintaining such policies, despite direct pressure from state attorneys general urging the company to abandon them.

Deloitte’s UK office split with its US business on the topic of DEI. 

Delta Air Lines has confirmed it will not scale back its DEI policies, continuing to support justice, equity and antiracism efforts.

JPMorgan Chase has changed its language around diversity, equity and inclusion, opting for the word opportunity in place of equity after political pressure.

Explore the latest edition of Sustainability Magazine and be part of the conversation at our global conference series, Sustainability LIVE. 

Discover all our upcoming events and secure your tickets today.

Sustainability Magazine is a BizClik brand