Thursday December 7, 2023
Law

Nike Shareholders Seek Racial Equity Data

  • Nike shareholders will vote in October on a resolution calling for the company to release data on pay and hiring by race and gender.
  • Activist groups have targeted a number of other companies with similar proposals.
Nike/Design: Alex Brooks
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Arjuna Capital and advocacy group As You Sow have brought shareholder resolutions to companies that made public racial justice and diversity commitments last year, demanding they produce data on pay, hiring, retention, and promotion — broken down by race and gender.

Nike has been vocal in its support of Black Lives Matter, but according to As You Sow, is attempting to block a shareholder resolution requiring it to release demographic data.

The company has around 75,400 employees. It earned $44.5 billion in the fiscal year ending May 31, up 19% from the previous year.

The activist groups have sought similar data from numerous companies.

  • Amazon shareholders blocked resolutions related to disclosing hiring and pay demographic data in May.
  • In February, the SEC allowed Comcast to block a similar resolution brought by As You Sow without a vote.
  • Foot Locker and Monster both agreed to release certain demographic data, prompting advocates to withdraw resolutions calling for disclosure.

Nike shareholders vote on a resolution calling on the company to release demographic data on Oct. 6. Earlier this month, the SEC rejected the company’s request to skip the vote.

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