Nike Shareholders Race Towards Diversity Data

Nike Shareholders Race Towards Diversity Data

Nike

NKE
+1.6% shareholders will vote on a proposal requesting disclosure around the company’s work to promote diversity and inclusion, a move that’s seen as long overdue. They will decide whether or not the company needs to release data on pay and hiring by race and gender. Currently, the sports footwear and apparel giant does not release its EEO1 form, which is the best practice for sharing workforce composition. This is in stark contrast to 71% of S&P 100 companies, as Nike continues to reckon with systemic internal racial inequity, while attempting to shape a better society.

The Breakdown You Need to Know: The company has around 75,400 employees and  earned $44.5 billion in the fiscal year ending May 31, up 19% from the previous year. Studies have pointed to the corporate benefits of a diverse workforce, including companies with the strongest racial and ethnic diversity are 35% more likely to have financial returns above industry median. Additionally, a Wall Street Journal study of the S&P 500 found that the most diverse companies had an average annual five year stock return 5.8% higher than the least-diverse companies. CultureBanx noted that perhaps this is why investors are seeking quantitative, comparable data to understand the effectiveness of diversity, equity, and inclusion programs within the organization.

Nike shareholders to vote on D&I disclosure.

https://www.forbes.com/sites/korihale/2021/09/08/nike-shareholders-race-towards-diversity-data/

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