Salesforce Investors Reject Racial Audit in Activist Loss

Salesforce Inc. shareholders rejected a proposal for a racial equity audit in a loss for activist investors.

The resolution called for the board to authorize an independent audit into Salesforce’s impact on racial equity, which includes employees, external civil rights organizations and communities where the San Francisco-based software company operates. Stockholders rejected the bid Thursday during Salesforce’s annual meeting, the company said, without specifying the vote. Final totals on the proposal will be released later.

The company’s board opposed the proposal, saying it already discloses employee demographics, and its efforts on racial justice have resulted in “meaningful change.” The board ...