Activists Pressure Nike Shareholders to Vote for Diversity Resolutions Ahead of Annual Meeting

Ahead of Nike’s annual shareholder meeting on Oct. 6, activists are pressuring shareholders to vote in favor of a resolution to disclose more details related to diversity, equity and inclusion progress. Shareholders at the Swoosh will vote on whether or not they support a resolution from consultancy Whistle Stop Capital and corporate watchdog and shareholder advocacy group As You Sow. The resolution would require Nike to publish an annual report assessing its progress on certain DEI initiatives, including, at minimum, details on how the board measures the effectiveness of DEI programs and metrics related to the promotion, recruitment and retention of protected classes of employees. In its annual proxy statement filed in August with the Securities and Exchange Commission, Nike’s board of directors recommended that shareholders vote against the proposal to publish the more detailed report assessing DEI initiatives, citing the company’s already existing annual report that addresses “the essential objective of the proposal,” including information of DEI initiatives. Though Nike releases its own annual Impact Report, activist shareholders said this offers “insufficient quantitative data for investors to determine the effectiveness of its human capital management program as it relates to workplace diversity.” Nike is currently not among the 71% of S&P 100 companies

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