Press ReleaseApril 28, 2023

Boardroom Initiative Supports Kellogg’s Shareholder Proposal for Company DEI Audit

At Kellogg’s annual shareholder meeting today, shareholders will vote on a proposal to audit the company’s Diversity, Equity, and Inclusion (DEI) policies for compliance with federal law. Brad Anderson, chairman of the Boardroom Initiative, released the following statement:

“Kellogg’s stock price has been under pressure over the last year, and shareholders deserve an investigation into whether Kellogg’s DEI policies are conflicting with the company’s fiduciary duty to maximize value. For instance, has Kellogg’s pledge for gender parity at management levels come at the expense of hiring the right people for the right job? And does its pledge to hire on the basis of race violate federal antidiscrimination laws, exposing the company to expensive legal action? Shareholders deserve answers and therefore should support today’s proposal to audit Kellogg’s DEI practices. Especially in today’s stagnating economy, companies like Kellogg’s can’t afford to put woke practices ahead of their fiduciary duty to maximize returns for shareholders, pension funds, and retirees.”