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Bellevue, WA/Washington, D.C. – Costco shareholders are urged to support a shareholder resolution submitted by the National Center for Public Policy Research’s Free Enterprise Project (FEP) calling on the warehouse giant to expand its board’s nominating and governance policies to consider viewpoint diversity when it seeks new board candidates.
Costco’s annual meeting of shareholders is scheduled to take place tomorrow at 4PM local time in Bellevue, Washington. National Center General Counsel and FEP Director Justin Danhof, Esq., the author of the resolution, will present it for consideration at the meeting.
FEP’s proposal notes that:
boards that incorporate diverse perspectives can think more critically and oversee corporate managers more effectively. By providing a meaningful disclosure about potential Board members, shareholders will be better able to judge how well-suited individual board nominees are for the Company and whether their listed skills, experience and attributes are appropriate in light of the Company’s overall business strategy…
True diversity comes from diversity of thought. There is ample evidence that the many companies operate in ideological hegemony that eschews conservative people, thoughts, and values. This ideological echo chamber can result in groupthink that is the antithesis of diversity. This can be a major risk factor for shareholders.
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