State Street Shelves Board Diversity Goals Amid DEI Backlash

State Street Corp.’s investing group shelved gender diversity targets for company boards amid mounting backlash against diversity, equity and inclusion across corporate America.

Last year, State Street Global Advisors said it expected corporate boards to be comprised of at least 30% women or it may vote against the head of the nominating committees.

That policy no longer exists in the asset manager’s 2025 guidelines for shareholder voting and corporate discussions, according to an update released Friday.

While characteristics including gender, race and ethnicity are necessary for effective board oversight of a company’s long-term strategy, “we believe nominating committees are ...