Goldman Sachs plans to drop DEI from board-candidate criteria, WSJ reports

Goldman Sachs plans to drop DEI from board-candidate criteria, WSJ reports

Feb 16 (Reuters) – Goldman Sachs (GS.N), opens new tab is preparing to eliminate race, gender identity, sexual orientation, and other diversity-related factors from the criteria its board uses to assess prospective candidates, The Wall Street Journal reported on Monday, citing people familiar with the matter.

Since taking office last year, U.S. President Donald Trump has launched a broad campaign against diversity, equity, and inclusion (DEI) practices in both the government and the private sector, alleging that these programs are discriminatory.

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Goldman’s decision follows a request from the conservative activist nonprofit National Legal and Policy Center, a small shareholder in the bank, the WSJ report said, adding that the group submitted a proposal last September urging the firm to remove the DEI criteria.

Last year, the Wall Street bank removed an entire “diversity and inclusion” section from its annual filing, after ending its that required companies to have at least two diverse board members before being advised on initial public offerings (IPOs).

The board’s governance committee currently identifies qualified candidates based on four primary criteria, including a broad definition of diversity that covers viewpoints, background, professional and military experience, as well as other demographic considerations, according to the WSJ report on Monday.

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