Disney investors reject a proposal to withdraw from HRC

21/3/2025 6:19

Disney shareholders rejected an

investor proposal to withdraw participation in the Human Rights

Campaign's corporate equity index, which rates workplaces on

lesbian, gay, bisexual, transgender and queer equality.



Disney is among the highest-profile employers to revise some

of its diversity and inclusion practices as the Trump

administration cracks down on diversity, equity and inclusion,

or DEI, practices across the federal government and in the

private sector.



Walt Disney was among 765 companies to receive a

perfect score in its 2025 ranking, acknowledging its efforts to

protect against workplace discrimination, to provide inclusive

benefits and to offer training to achieve an inclusive culture.



The shareholder proposal argues that Disney's involvement in

such divisive political issues has alienated segments of the

audience, and damaged the company's stock price. It urges

investors to support the proposal, which it says provides an

opportunity for Disney "to move back to neutral."



Disney urged investors to reject the proposal, saying its

board already provides oversight of workforce equity matters.



Only 1% of shareholders voted to support this measure,

according to the preliminary tally announced Thursday.



Other companies, including automaker Ford Motor,

motorcycle manufacturer Harley-Davidson and home

improvement retailer Lowe's, have ended their

participation in the annual ranking of companies with

LGBTQ-friendly work environments.



A number of U.S. companies have retreated from DEI in recent

months, as the Trump administration stepped up threats to

companies and institutions that engage in those efforts.



Even Disney changed its executive compensation criteria,

replacing the objective of increasing diversity and inclusion

with a factor called "talent strategy," which evaluates how well

leaders advance the company's overall values.



In other matters, Disney's investors returned all 10 members

to its board of directors and retained PricewaterhouseCoopers as

the company's independent public accountant. Investors voted for

a non-binding resolution, supporting executive compensation.



Shareholders rejected a proposal to publish a report,

disclosing how its retirement plan investments protect the

plan's beneficiaries from investments in high-carbon companies.



Investors voted against a proposal that called on Disney to

issue a report, evaluating how it evaluates the risks related to

discriminating against ad buyers or sellers based on their

political or religious views.



Disney's investors also rejected a proposal that called on

the company to adopt politically neutral ad policies. The

proposal took issue with the company's participation in the

now-defunct Global Alliance for Responsible Media, which was

formed to protect brands from harmful content. Elon Musk's

social media platform X later sued the nonprofit, which alleged

companies had conspired to organize a massive boycott.