Disney investors voted down a proposal that the entertainment giant cease its participation in a prominent LGBTQ rights organization’s equality ratings program.
The proposal was submitted by right-wing think tank National Center for Public Policy Research, through its Free Enterprise Project initiative (FEP). “When corporations take extreme positions, they destroy shareholder value by alienating large portions of their customers and investors. This proposal provides Disney with an opportunity to move back to neutral,” the FEP’s proposal stated.
Disney’s board recommended voting against the proposal to end its participation in the HRC’s Corporate Equality Index. Shareholders concurred, with only 1% of shares voted in favor the proposal.
Disney has a history of championing LGBTQ rights. In 2022, the company’s stance against Florida’s “don’t say gay” school policy prompted a two-year legal battle with Florida Gov. Ron DeSantis.
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