Investment Week (August 15)
“In the wake of political pushback and shifting corporate priorities, diversity, equity and inclusion (DEI) in financial services has found itself at a crossroads…. Public commitments have dampened, budgets are under scrutiny, and sceptics question whether the industry’s progress is unravelling.” Especially in the United States, a growing number of firms are “scaling back or abandoning DEI initiatives altogether.” However, UK industry leaders believe “the narrative of decline does not tell the full story. While some organisations are quieter in their public statements, there remains evidence that internal commitment remains firm.”
Tags: Abandoning, Budgets, Commitment, Corporate priorities, Crossroads, Dampened, DEI initiatives, Financial services, Political pushback, Public commitments, Scaling back, Sceptics, Scrutiny, U.S., UK, Unravelling
Seeking Alpha (August 20)
“Harley-Davidson (HOG) is the latest corporation to back away from DEI initiatives following a backlash kickstarted by activist and political commentator Robby Starbuck. An online campaign against the 120-year-old motorcycle company accused the firm and its CEO, Jochen Zeitz, of embracing a ‘woke agenda of the very far left’ that does not align with the business’s core customers. It follows similar campaigns against Deere (DE) and Tractor Supply (TSCO), which both shelved their DEI protocols earlier in the summer.”
Tags: Activist, Align, Backlash, Campaigns, CEO, Core customers, Deere, DEI initiatives, Harley-Davidson, Kickstarted, Shelved, Woke agenda
