PRESS RELEASE: IMPACTIVIZE – July 8, 2025 09:00 ET
Shareholders of 30 Companies Worth $13 Trillion Vote Overwhelmingly to Defeat Anti-DEI Proposals
EUGENE, Ore., July 8, 2025 /PRNewswire/ — Shareholders of 30 major corporations, collectively valued at more than $13 trillion, have voted overwhelmingly to reject anti-DEI proposals during 2025 proxy season, delivering a resounding defeat to conservative activist groups seeking to eliminate diversity, equity and inclusion initiatives.
Shareholder voting, tracked by Impactivize, resulted in a 30-0 perfect record, with most proposals rejected by margins of 98% to 99%. Companies including Costco, Apple and Mastercard saw shareholders decisively support board recommendations to vote against anti-DEI proposals.
CEOs of several companies underscored the business case for DEI during shareholder Q&A sessions. Rob Davis, CEO of Merck, told shareholders that diversity and inclusion initiatives are a “strategic imperative.”
“Shareholder voting margins send a clear message: investors understand that diversity is good for business,” said Nancy Levine Stearns, founder of Impactivize. “The overwhelming tallies are significant, corporate governance experts told me.”
Key Results
- 30 companies faced anti-DEI proposals—all 30 were defeated
- Median rejection rate: 99% of voting shares (rounded to whole numbers)
- Notable tallies: Costco (98-2%), Apple (98-2%), Coca-Cola (99-1%)
Business Case Validated
Shareholder voting aligns with research showing DEI’s positive business impact. Costco’s foot traffic increased since defending DEI policies, while Target’s retreat may have hurt sales.
Andrew Behar, CEO of shareholder advocacy group As You Sow spoke with Impactivize about their large scale study revealing the “business and investor case for diversity as a material factor in financial success.”
Despite Trump administration claims saying DEI is “illegal,” 16 state attorneys general urged businesses to stand firm, confirming that DEI initiatives remain compliant with federal and state law.
“DEI isn’t illegal, and it’s not going anywhere,” said attorney Jon Hyman, an Impactivize advisory board member. “Companies backing away from DEI aren’t protecting themselves—they’re setting themselves up to fall behind.”
About the Reporting
Impactivize tracked anti-DEI shareholder proposals in 2025 proxy statements, attended virtual shareholder meetings, reported voting results and CEO comments.
View our full reporting on anti-DEI shareholder proposals in 2025.
About Impactivize
Impactivize is a nonprofit project focusing on diversity, equity and inclusion initiatives in the private sector. Founded by executive recruiter-turned-journalist Nancy Levine Stearns, Impactivize provides original and curated reporting, DEI Job of the Day™ and Employer of the Day™ listings. Tax-deductible donations to Impactivize support expanded capacity for covering inclusion initiatives in the private sector.