With U.S. President Donald Trump railing against corporate diversity, equity and inclusion (DEI) efforts and axing government ones, it may come as no surprise that U.S. companies are reporting fewer race and gender details about their directors.
But the extent of the pullback is striking, said Josh Ramer, whose New Jersey company DiversIQ tracks disclosures for investors and corporate clients.
Among S&P 500 companies making proxy filings this year, 54% gave fewer director demographic details than in 2024; last year only 7% of those companies gave fewer details, Ramer found. He said he had expected a smaller decline and said companies seem anxious about the Trump administration's rhetoric.
"I think it's extreme caution," Ramer said. "There's confusion about what's allowed, and companies just don't want to take the risk of being targeted" for criticism or legal action over their filings, he said.
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