Shareholders Chide Walmart CEO Following Recent DEI Rollback (1)

A group of shareholder activists defending diversity initiatives as a business necessity is decrying Walmart’s decision to nix certain DEI programs.

In a letter to Walmart CEO Doug McMillon, over two-dozen shareholder groups including As You Sow, Amalgamated Bank, and Mercy Investment Services criticized the retail giant for ending a range of diversity initiatives.

Walmart “has not offered a financial or business case” for its policy changes, the letter said, even though it highlighted DEI as an environmental, social, and governance priority in its 2024 annual report.

“We’re the same company with the same values with the same commitment ...