Walt Disney Overwhelmingly Rejects Anti-LGBTQ+ Proposal

In a welcome move, the vast majority of Walt Disney shareholders have voted against a proposal calling for the company to withdraw from an LGBTQ+ workplace equality initiative.

The decision bucks a recent disturbing trend of American companies, including Meta, Ford Motor Company, and Harley-Davidson, rolling back their support for LGBTQ+ inclusion.

The proposal sought to have the Walt Disney Company pull out of the Human Rights Campaign’s (HRC) Corporate Equality Index, which rates companies on their LGBTQ-inclusive workplace policies. Disney has consistently ranked highly in the annual index.

The right-wing National Center for Public Policy Research’s Free Enterprise Project (FEP) submitted the proposal at Disney’s Annual Shareholders Meeting on 20 March.

The FEP argued that Disney’s participation in the index risked harming shareholder value by allegedly alienating a significant portion of its customers and investors.

The group further claimed that the HRC aimed “to sow gender confusion in children, encourage irreversible surgical procedures on confused teens, effectively eliminate girls’ and women’s sports and bathrooms, and roll back longstanding religious liberties.”

Resounding Rejection by Shareholders

The FEP urged Disney to follow other companies that have recently distanced themselves from Diversity, Equity, and Inclusion (DEI) initiatives, seemingly to appease the conservative Trump administration.

However, shareholders overwhelmingly rejected the proposal, aligning with a recommendation from Disney’s board.

Only one percent of shareholders voted in favour of the anti-LGBTQ+ motion.

HRC Welcomes Disney’s Decision

The HRC applauded the company’s decision, asserting that fostering a welcoming and inclusive workplace environment drives innovation and boosts productivity.

“This vote gives us a clear statement of values from Disney’s shareholders. They know what we know – that despite all the noise, commitments to inclusion pay figurative dividends and help their literal bottom line,” said Eric Bloem, Vice President of Corporate Citizenship at the HRC Foundation.

“And they’re not alone. Shareholders at companies as diverse as Costco, Apple, John Deere, and others in the past months have resoundingly rejected efforts to roll back DEI,” he added.

The HRC also cited research showing that companies in the top quartile for gender and ethnic diversity significantly outperform their competitors. Additionally, 86% of more than 3,000 global CEOs believe that diversity and inclusion provide a competitive advantage.