Goldman Sachs has ended its commitment to ensure US and Western European companies have at least two non-white male board members during the IPO process. The policy, which started with one board member and later expanded to two, was intended to promote diversity and inclusion on boards.
The move comes after a series of court rulings questioned certain quotas and amid conservative backlash. A Goldman spokesperson stated that the company will continue to encourage diverse boards despite ending its formal policy. This development raises concerns about potential backsliding in corporate efforts to promote diversity, equity, and inclusion.
The decision is part of a broader trend of companies reevaluating their DEI initiatives following the Supreme Court’s ban on affirmative action in universities. If successful, Meta’s push for diverse workforces has shown tangible results, but its retreat from DEI policies may have negative consequences.
Source: https://www.axios.com/2025/02/11/goldman-sachs-dei-ipo-pledge