The move follows pressure from an activist shareholder group seeking end to DEI requirements
Goldman Sachs is removing race, gender and other diversity-related considerations when evaluating prospective candidates for its executive board after pressure from an activist shareholder group to remove the criteria.
The National Legal and Policy Center (NLPC), a small Goldman shareholder, quietly submitted a request to the company last September asking the bank to eliminate its diversity, equity and inclusion (DEI) board criteria.
According to a Wall Street Journal report, Goldman recently informed the group that it plans to remove the DEI criteria, and the two parties signed an agreement under which the NLPC would withdraw its proposal.
Goldman’s board is expected to approve the changes this month, people familiar with the matter told the Journal.
