Goldman Sachs to Eliminate DEI Board Hiring Standards in Strategic Policy Shift
Cornell University law professor William Jacobson discusses rooting racism out of the higher education system as well as an op-ed that college students are becoming less woke.
Goldman Sachs is set to eliminate DEI hiring standards for its board of directors, as reported by The Wall Street Journal on Monday. This decision follows the company’s previous removal of board diversity requirements for companies it was taking public last year. Now, Goldman Sachs plans to remove DEI language from its own board member criteria this month.
The board’s governing committee evaluates potential candidates based on four criteria, one of which emphasizes a more traditional understanding of diversity. This includes various viewpoints, backgrounds, work experiences, and military service. However, the section also includes “other demographics,” which refers to race, gender identity, ethnicity, and sexual orientation. According to the Journal, the board now intends to eliminate references to “other demographics.”
This anticipated change comes after a request from the National Legal and Policy Center, a conservative nonprofit that holds a small stake in the bank, made in September, as noted by the Journal.
Goldman Sachs is rolling back its DEI hiring standards for its board of directors. (Getty Images / Getty Images)
Goldman Sachs has reached an agreement with the NLPC, allowing the board to make this change voluntarily, thus avoiding a formal request that would have been circulated to shareholders ahead of the company’s annual meeting later this year.
This shift is part of a broader rejection of DEI policies, significantly influenced by President Donald Trump‘s return to the White House last year. Trump swiftly moved to dismantle DEI initiatives, signing an executive order on his first day titled “Ending Radical and Wasteful Government DEI Programs and Preferencing.” This directive aimed to eliminate DEI-style programs across federal agencies.
CORPORATE AMERICA HAS DECIDED THAT DEI NEEDS TO DIE
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange.
“We’ve ended the tyranny of so-called Diversity, Equity and Inclusion policies all across the entire federal government and indeed the private sector and our military. And our country will be woke no longer,” Trump stated in March.
The administration has also targeted DEI initiatives at elite universities, seeking new funding agreements with institutions like Columbia University and Harvard. Harvard has been a primary target of the Trump administration’s efforts to leverage federal funding to combat antisemitism and “woke” ideology.
In December, lawyers for the Trump administration appealed a judge’s order to restore $2.7 billion in frozen federal research funding to Harvard University.
Harvard banners hang outside Memorial Church on the Harvard University campus in Cambridge, Massachusetts. (Getty Images)
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Harvard has since filed a lawsuit against the administration over its attempt to freeze federal funding, arguing that these actions constitute an unconstitutional “pressure campaign” aimed at influencing elite academic institutions.
Fox News’ Emma Colton contributed to this report.
Cornell University law professor William Jacobson discusses rooting racism out of the higher education system as well as an op-ed that college students are becoming less woke.
Goldman Sachs is set to eliminate DEI hiring standards for its board of directors, as reported by The Wall Street Journal on Monday. This decision follows the company’s previous removal of board diversity requirements for companies it was taking public last year. Now, Goldman Sachs plans to remove DEI language from its own board member criteria this month.
The board’s governing committee evaluates potential candidates based on four criteria, one of which emphasizes a more traditional understanding of diversity. This includes various viewpoints, backgrounds, work experiences, and military service. However, the section also includes “other demographics,” which refers to race, gender identity, ethnicity, and sexual orientation. According to the Journal, the board now intends to eliminate references to “other demographics.”
This anticipated change comes after a request from the National Legal and Policy Center, a conservative nonprofit that holds a small stake in the bank, made in September, as noted by the Journal.
Goldman Sachs is rolling back its DEI hiring standards for its board of directors. (Getty Images / Getty Images)
Goldman Sachs has reached an agreement with the NLPC, allowing the board to make this change voluntarily, thus avoiding a formal request that would have been circulated to shareholders ahead of the company’s annual meeting later this year.
This shift is part of a broader rejection of DEI policies, significantly influenced by President Donald Trump‘s return to the White House last year. Trump swiftly moved to dismantle DEI initiatives, signing an executive order on his first day titled “Ending Radical and Wasteful Government DEI Programs and Preferencing.” This directive aimed to eliminate DEI-style programs across federal agencies.
CORPORATE AMERICA HAS DECIDED THAT DEI NEEDS TO DIE
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange.
“We’ve ended the tyranny of so-called Diversity, Equity and Inclusion policies all across the entire federal government and indeed the private sector and our military. And our country will be woke no longer,” Trump stated in March.
The administration has also targeted DEI initiatives at elite universities, seeking new funding agreements with institutions like Columbia University and Harvard. Harvard has been a primary target of the Trump administration’s efforts to leverage federal funding to combat antisemitism and “woke” ideology.
In December, lawyers for the Trump administration appealed a judge’s order to restore $2.7 billion in frozen federal research funding to Harvard University.
Harvard banners hang outside Memorial Church on the Harvard University campus in Cambridge, Massachusetts. (Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Harvard has since filed a lawsuit against the administration over its attempt to freeze federal funding, arguing that these actions constitute an unconstitutional “pressure campaign” aimed at influencing elite academic institutions.
Fox News’ Emma Colton contributed to this report.
