Goldman Sachs is preparing to eliminate diversity, equity and inclusion criteria from the process it uses to select new board members, The Wall Street Journal reports.
The Wall Street bank plans to remove references to race, gender identity, ethnicity and sexual orientation from the list of factors considered by its governance committee when evaluating potential directors, according to people familiar with the matter.
The move follows a request from conservative activist group National Legal and Policy Center, which had pushed the firm to drop the DEI language and withdraw a related shareholder proposal.
Goldman has already scaled back other DEI initiatives over the past year, including ending diversity requirements for companies it takes public and revising programs aimed at supporting minority entrepreneurs.
The board is expected to approve the updated language this month.
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