from The Epoch Times:
Since 2021, 25 companies have been notified by shareholders that their DEI programs constitute illegal discrimination and a breach of fiduciary duty.
As Ford took steps last week to distance itself from the “diversity, equity, and inclusion” (DEI) movement that has swept the corporate world in recent years, it became just one of a number of companies that are rethinking their commitments to race-based ideology.
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Ford’s reversal on DEI follows that of other major corporations, including Tractor Supply, John Deere, Harley-Davidson, Polaris, Indian Motorcycle, Lowe’s, and most recently Molson Coors, which have reportedly revised their DEI policies, either due to public pressure or legal challenges.
In addition, 25 companies have been formally notified by shareholders since 2021 that their DEI programs constitute illegal discrimination under federal and state civil rights laws, as well as a breach of fiduciary duty to investors.
“This is a trend, for sure,” Jerry Bowyer, president of Bowyer Research, a conservative investment consulting firm, told The Epoch Times. “The rapid succession, the way it’s occurred, there’s almost a cascade effect going on.
“That whole world of ESG, stakeholder capitalism, DEI—the whole idea of companies as social engineers rather than as value producing business—had just gotten so far ahead of what customers wanted,” Bowyer said. “Shareholders were not asking for this.”
