Apple (AAPL, Financials) shareholders rejected a proposal to discontinue the company's diversity, equity, and inclusion initiatives at its annual meeting.
Supported by the National Center for Public Policy Research, the proposition was among many that lacked investor approval.
Although CEO Tim Cook underlined Apple's dedication to inclusiveness, he stated the business may change its DEI rules to match changing regulatory regulations. Emphasizing that recruiting, training, and promotions remain non-discriminatory, Apple said that the measure will interfere with its business operations.
Proposals on artificial intelligence dangers, child sex abuse material rules, and charity giving transparency also turned off investors. Referring to issues connected with OpenAI, which is supported by Microsoft (MSFT, Financials) and works with Apple on AI capabilities, the AI-related petition demanded guarantees on ethical data-collecting techniques. Apple said it already had rules in place regarding CSAM and charity donation openness.
Key business choices accepted by stockholders included CEO pay, board reelection for Apple, and acceptance of its accounting company. Cook's income overall increased 18% to $74.6 million by 2024.
The DEI-related plan coincides with other big IT companies changing their diversity policies. While Meta (META, Financials) stopped key DEI projects last month, Google (GOOGL, Financials) recently dropped diversity recruiting targets.
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