Anti-DEI Shareholder Proposals on the Rise: What Companies Need to Know (2023–2025)
Shareholder proposals targeting corporate diversity, equity, and inclusion (DEI) initiatives have surged across Russell 3000 companies in the 2025 proxy season. According to a new analysis powered by the CompanyIQ® corporate research platform, these “anti-DEI” proposals more than doubled in the 2025 proxy year compared to previous years—yet none have passed, garnering on average just 2% or less in shareholder support.
Key Findings from the Report
- Proposal Growth: Anti-DEI shareholder proposals more than doubled in 2025.
- Top Sponsors: 72% came from the National Center for Public Policy and Research (NCPPR), 17% from the National Legal and Policy Center (NLPC), 4% from Bowyer Research, and 7% from other groups.
- Targets & Themes: Most proposals focus on employees, workplace civil rights, or perceived discrimination against non-minority employees. A new trend in 2025 is proposals targeting DEI-linked executive compensation.
- Support Levels: None have passed, with the highest support at just 7%.
Industries & Companies in Focus
The industries most frequently targeted include Food & Beverage, Financial Services, Pharmaceuticals, and Technology. Major companies such as Apple, Berkshire Hathaway, Boeing, Coca-Cola, Goldman Sachs, McDonald’s, PepsiCo, Pfizer, UPS, Walmart, and Yum! Brands have all faced anti-DEI proposals.
Why This Matters
While shareholder support remains minimal, the rise in anti-DEI proposals reflects ongoing cultural and political debates around corporate DEI efforts. Companies should be prepared to address these proposals strategically, ensuring they can communicate both to investors and the public about the value of DEI initiatives.
With anti-DEI shareholder proposals likely to remain part of the governance landscape, data-driven intelligence from CompanyIQ® gives companies the tools they need to anticipate trends, prepare responses, and strengthen investor communications.