Apple board urges shareholders to reject DEI buyback proposal

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Fitz-Gerald Group Chief Investment Officer Keith Fitz-Gerald analyzes Apple and explains why Palantir stock is on its way to $100 per share against Varney & Co.

Apple’s board of directors has urged shareholders to reject a proposal calling for the company to end its diversity, equity and inclusion (DEI) programs, arguing the move is “unnecessary.”

The iPhone maker’s defense of its DEI programs comes in 2018. Following the 2023 Supreme Court decision on affirmative action and public pressure from activists, several major corporations are scaling back on so-called “active” initiatives.

Ticker	Security	last one	Change	change %
APL	APPLE INC.	234.40	-2.45	-1.03%

In the year A proxy filing released ahead of Apple’s annual meeting in 2025 shows that the National Center for Public Policy Research, a free-market think tank and activist stakeholder, has suggested that Apple end its DEI efforts, saying such programs put the company at greater risk of litigation. Discrimination.

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But Apple advised shareholders to vote against the proposal, saying, “Apple already has a well-established compliance program and the proposal is an inappropriate attempt to limit Apple’s ability to manage its ordinary business operations, people and teams, and business strategies.” “

Panelists Jennifer Seay and Daniel Cameron will discuss how major companies are holding back DEI and the ‘bottom line’ of environmental, social and governance programs.

DEI often includes prioritizing race, gender, or sexuality in hiring, training, and programming, and its initiatives have been criticized by conservatives as divisive and discriminatory. DEI supporters say these efforts will bridge racial divides and provide support for historically marginalized groups.

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DEI policies have faced increased scrutiny over the past year or so, prompting at least a dozen major U.S. companies and hundreds of universities to retract these mandates, including Walmart, Meta and Ford.

Ticker	Security	last one	Change	change %
Wmt	WALMART INC.	91.53	-1.47	-1.58%
META	META PLATFORMS INC.	608.33	-7.53	-1.22%
F	Ford Motor Company	9.71	+0.06	+ 0.62%

But Apple is not alone in standing firmly behind its DEI efforts. Most of America’s largest companies still have such programs, and Costco recently defended its DEI policies, urging its own shareholders to reject the idea of ending it.