Costco board pushes back against anti-DEI shareholder proposal

Costco’s (COST) board of directors has unanimously recommended that shareholders vote against a proposal brought by the National Center for Public Policy Research, which would require the company to evaluate and issue a report on the financial risks of maintaining its diversity and inclusion goals, according to a proxy statement to investors. “Among other things, a diverse group of employees helps bring originality and creativity to our merchandise offerings, promoting the ‘treasure hunt’ that our customers value,” Costco said. “We believe (and member feedback shows) that many of our members like to see themselves reflected in the people in our warehouses with whom they interact.”