Ford Motor Co. F has revised its diversity, equity, and inclusion policies, as confirmed by CEO Jim Farley on Wednesday.
What Happened: CEO Farley informed employees via email about the changes. The company has refocused its employee resource groups and ceased participation in external culture surveys by the Human Rights Campaign, an LGBTQ+ advocacy group.
Right-wing activist Robby Starbuck shared the email on X, claiming he influenced the policy changes.
Ford confirmed the email’s authenticity to CNN.
Farley emphasized the evolving external and legal environment, stating, "We are mindful that our employees and customers hold a wide range of beliefs."
Despite the changes, Farley assured that Ford remains dedicated to fostering an inclusive workspace and leveraging diverse perspectives.
Ford joins other companies like Harley-Davidson and Tractor Supply Co. in revising their diversity, equity, and inclusion (DEI) programs and other social policies.
The Human Rights Campaign criticized Ford’s decision, accusing the company of abandoning inclusive policies and caving to political pressure.
"Ford Motor Company's shortsighted decisions will have long-term consequences," HRC President Kelley Robinson said on Wednesday in a press release.
Why It Matters: The shift in Ford Motor Company’s diversity policies comes amid a broader debate on the role of DEI in corporate America.
Earlier this year, business magnate Mark Cuban emphasized the competitive edge that diversity can provide to businesses. In a discussion on X, Cuban stated that he hires based on who can best position his business for success, rather than solely on race, gender, or religion.
In May, billionaire investor Bill Ackman faced criticism from Wall Street executives for his anti-DEI stance. During a private session at the Milken Institute Global Conference, Ackman was reportedly confronted by senior executives who deemed his views detrimental to the advancement of women and people of color.
Additionally, tech mogul Elon Musk has accused Walt Disney Co. of “institutionalized racism and sexism” over its diversity standards. Musk’s allegations followed the leak of Disney’s “General Entertainment Content Inclusion Standards” document, which outlined diversity criteria for various roles in Disney productions.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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