Kohl's Faces Shareholder Proposal Over Diversity and Inclusion Spending
A conservative investor group challenges Kohl's financial sustainability measures related to its diversity efforts, prompting a heated debate among shareholders.
- The National Center for Public Policy Research, a conservative activist investor group, has proposed that Kohl's create a committee to review the impact of its diversity and inclusion initiatives on financial sustainability.
- Kohl's board of directors unanimously recommends rejecting the proposal, citing existing oversight mechanisms that address the company's social and political engagements.
- The group inaccurately claimed Kohl's donated $1 million to Black Lives Matter, a statement refuted by fact-checking, which confirmed the funds were allocated to local non-profits not affiliated with BLM.
- The investor group's proposal is part of a broader campaign against what it terms 'woke capitalism,' targeting companies perceived as supporting left-wing causes.
- Despite the controversy, shareholder support for such proposals remains low, with major asset managers and proxy advisors typically opposing them.
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