Costco is pushing back on a shareholder proposal that urges the wholesale club operator to conduct an evaluation of any business risks posed by its diversity, equity and inclusion practices
FILE - A cart wrangler gathers shopping carts outside a Costco warehouse in Sheridan, Colo., July 16, 2024. Costco is pushing back on a shareholder proposal that urges the wholesale club operator to conduct an evaluation of any business risks posed by its, arguing that Costco's DEI initiatives hold “litigation, reputational and financial risks to the company, and therefore financial risks to shareholders.”Costco officials could not be reached for comment on the DEI proposal.
The directors' message to shareholders details how having diverse employees and suppliers has, in their view, fostered “creativity and innovation in the merchandise and services that we offer” and led to greater customer satisfaction among "I think people generally have confidence in Costco’s management, and there's an attitude of ‘Why rock the boat? It's sailing very nicely,'" Saunders said.
Last week, more than 30 Walmart shareholders, including Amalgamated Bank and Oxfam America, asked the CEO of the nation's largest retailer to explain the business impact of curbing the company's DEI policies, a move they called “disheartening.
Equity And Inclusion Business Race And Ethnicity U.S. News General News Article 118012757
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