Disney shareholders reject anti-DEI proposal

Core Points - Disney shareholders overwhelmingly rejected a proposal to cease participation in a national diversity, equity, and inclusion (DEI) report, with only 1% voting in favor of the proposal [1] - The proposal was initiated by the National Center for Public Policy Research, a conservative think tank, which requested Disney to stop using the Human Rights Campaign's Corporate Equality Index as a benchmark for LGBTQ+ employee support [2][4] - Disney's board recommended against the proposal, stating it would not provide additional value to shareholders, and highlighted the company's perfect score on the Corporate Equality Index since 2007 [4] Company Actions and Reactions - Disney publicly opposed Florida's "Don't Say Gay" bill in 2022, which led to significant backlash from Florida Governor Ron DeSantis, resulting in the loss of Disney's self-governing status in the Reedy Creek Improvement District [5][6] - The pressure on companies to roll back DEI initiatives has increased since the Trump administration, which sought to end diversity programs in the federal government [7] - Similar proposals to roll back DEI efforts have been rejected by shareholders at other major companies, including Costco and Apple [8][9]