Apple Inc's (NASDAQ:AAPL, ETR:APC) investors rejected a proposal to dismantle its inclusion and diversity programme at the company’s annual shareholder meeting overnight.
The request, submitted by the National Center for Public Policy Research, argued that diversity programs could lead to discrimination and compliance risks.
Despite rejecting the measure, CEO Tim Cook acknowledged that shifting legal policies might require adjustments in the future.
The proposal from the conservative thinktank had urged Apple to follow other high-profile companies in pulling back from DEI initiatives, such as Walmart's decision soon after Donald Trump's victory in the US presidential election. DEI initiatives were also rolled back at Harley-Davidson and Jack Daniels maker Brown-Forman Corporation in the second half of last year.
Apple said announced shareholders had rejected the motion, with the vote share to be disclosed via a later filing.
Cook’s pay rose to $74.61 million in 2024, up from $64.21 million the previous year.