Apple Shareholders Uphold DEI Programs Amid Corporate Rollbacks

Apple Inc AAPL shareholders voted to uphold the company's diversity, equity and inclusion (DEI) programs on Tuesday, rejecting a proposal from a conservative think tank to abolish them, CNBC reports.

What To Know: A proposal from the National Center for Public Policy Research rgued that DEI initiatives could lead to discrimination and pose financial risks.

Other tech companies like Meta Platforms Inc, Microsoft Corp and Alphabet Inc reportedly decided to discontinue DEI programs.

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Apple opposed the measure. The Cupertino, California-based company stated it complies with employment laws and that the proposal overreached in controlling internal policies.

Per CNBC, CEO Tim Cook reaffirmed Apple's commitment to fostering a diverse workforce but acknowledged evolving legal challenges might require adjustments.

What Else: The vote comes amid a broader corporate retreat from DEI programs following a 2023 Supreme Court ruling ending affirmative action in college admissions and a Trump executive order dismantling federal DEI initiatives. Despite these trends, Apple's shareholders maintained their inclusion policies.

Shareholders also rejected proposals on AI ethics, child exploitation prevention and Apple's OpenAI partnership while approving the board slate, executive compensation and a $500 billion investment in U.S. operations. Cook also confirmed Apple's commitment to annual dividend increases, with further details expected in May.

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