Apple to keep Dei’s efforts, although some adjustments possible

(Bloomberg) – Apple Inc. investors rejected an external shareholder proposal to end the diversity, equity and inclusion of the iPhone manufacturer, although executive director Tim Cook said the company can make some adjustments to the program.

The company made the vote as part of its annual meeting, held practically on Thursday, with Cook and the general advisor Kate Adams leading the procedures. In line with Apple recommendations, investors also rejected requests for reports on artificial intelligence risks and decisions related to child sexual abuse material, or CSAM. They also rejected a measure on charitable donations practices.

The shareholders re -elected the Board of Directors of Apple, ratified their external accounting firm and approved the company’s executive compensation. Last year, Cook received a 18% salary increase to $ 74.6 million, including a base salary of $ 3 million, $ 58.1 million in shares and approximately $ 13.5 million in additional compensation.

As most of the years have done, shareholders voted in line with Apple’s recommendations. The last time investors moved away from the company’s advice was in 2022, when shareholders voted for proposals related to concealment clauses in employment agreements and civil rights audits.

The proposal to abolish Dei’s efforts occurred after many companies, including Platforms Inc. and Google of Alphabet Inc., began to reduce such programs.

The measure, backed by the National Public Policy Research Center, said Apple maintaining its impulse from Dei was not prudent. The group describes itself as a group of independent conservative experts.

“It is clear that Dei raises litigation, reputational and financial risks for companies and, therefore, the financial risks for their shareholders and, therefore, greater risks for companies for not fulfilling their fiduciary duties,” said the proposal .

Apple responded by saying that the proposal aims to interfere with its commercial practices and that “does not discriminate recruitment, hiring, training or promotion of any base protected by law.”

During the meeting, Cook said Apple never had quotas or objectives. But he suggested that the company can make some adjustments to its policies.

“Our unique culture allows us to create the best products and services in the world,” he said. “As the legal landscape around these problems evolves, we may need to make some changes to meet. We will continue working together to create a culture of belonging and continue committed to the values that have always made us who we are. “

The proposal of AI sought to ensure that the data is not collected in an unusual way and cited concerns with Openai’s work, one of Apple’s partners. “Operai allegedly stole large amounts of personal information by scraping the web, including ‘private information and private conversations, medical data, children’s information’, according to the proposal.

Apple told shareholders that it already publishes the information requested in its privacy practices and that it has a “solid history” to protect user privacy. The CSAM melted and the proposals related to graphic donations in saying that it already has characteristics or policies to address what the shareholders are looking for.

Apple has been playing in AI, with its technology that is left behind the rival offers. It is also displaying the characteristics, called Apple Intelligence, for many parts of the world. That includes China, where the company has had to renew the software to meet government restrictions.

Apple is also having the tariffs of President Donald Trump. As part of an attempt to demonstrate that it is committed to the US, the company announced plans on Monday to invest $ 500 billion in its country of origin and hire 20,000 new workers in the next four years.

In more general terms, technological actions such as Apple face a retreat. The actions have dropped 1% this year, after the important profits in 2023 and 2024.

(Updates with more meetings that begin in the first paragraph).