At its annual meeting, Disney shareholders firmly rejected a proposal urging the company to withdraw from the Human Rights Campaign’s equality ratings programme. This proposal, driven by the National Center for Public Policy Research’s Free Enterprise Project, suggested that aligning with the HRC’s Corporate Equality Index harms shareholder value by alienating vast customer bases. Despite this, Disney has maintained a perfect score on the index since 2007 for its commitment to LGBTQIA+ inclusion.
The proposal specifically criticized Disney’s support for transgender rights and linked HRC and other groups to alleged harmful practices. The conservative initiative portrayed Disney’s involvement in advocacy, particularly against Florida’s controversial “Don’t Say Gay” law, as detrimental. However, Disney’s board opposed the motion, asserting that it would not add value to shareholders given their current governance practices on equity and human rights.
The shareholders overwhelmingly agreed with the board’s position, with just 1% supporting the cessation of HRC participation. The Human Rights Campaign hailed the results as a strong endorsement from shareholders, showcasing their commitment to diversity. Interestingly, this meeting follows Disney’s recent reduction in diversity initiatives, reflecting broader corporate trends amidst changing political landscapes.
In addition to the HRC proposal, Disney investors also turned down two other motions aimed at climate risk reporting and oversight of discrimination in advertising. Shareholders approved Disney’s compensation structures, including CEO Bob Iger’s hefty $41.1 million package, which signaled ongoing confidence in leadership.
Amidst these discussions, Iger previewed an upcoming sequel to “Coco” and shared insights into Disney’s exploratory path into artificial intelligence, asserting that AI would enhance operational efficiency while safeguarding intellectual property and respecting creators. Notably, Disney has partnered with Nvidia and Google’s DeepMind to develop advanced AI technologies. Thursday’s meeting proved to be considerably calmer than prior gatherings, highlighting a steady course for Disney amidst swirling controversies.
Disney shareholders rejected a bid to end participation in the Human Rights Campaign’s Corporate Equality Index, affirming support for LGBTQ rights. They also voted against other proposals concerning climate and discrimination risks while approving executive compensation packages. CEO Bob Iger discussed AI’s role in enhancing Disney’s operations during the calmer annual meeting.
Disney’s shareholders showcased overwhelming support for LGBTQ rights by rejecting a proposal to sever ties with the Human Rights Campaign. In a broader context, shareholders also dismissed other motions regarding climate risk and discrimination oversight while approving substantial compensation for Disney’s leadership. As the company navigates challenges in diversity policies and embraces AI, the clear support from shareholders affirms their commitment to inclusion as integral to Disney’s core values and future strategies.
Original Source: variety.com
