The number of pro-DEI proposals submitted by shareholders decreased overall in the 2024 proxy season compared to the 2023 proxy season, according to data provided by Proxy Analytics. Average support for DEI proposals decreased or remained flat as compared to average support for these proposals in the 2023 proxy season. A summary of the results as of June 10, 2024 follows.

This article is part of a larger look at diversity shareholder proposals called “The Future of DEI Shareholder Proposals” that was authored by Fenwick’s Wendy Grasso, Merritt Steele, and David A. Bell and published by the Harvard Law School Forum on Corporate Governance.

While diversity was once generally considered a positive factor, the topic of DEI has recently become more politically polarized. Companies have also become increasingly aware of the legal risks and potential reputational risks associated with race-based programs. Some companies have even pulled back on their DEI initiatives (at least publicly) as a result of the recent backlash.

www.fenwick.com/...