Nike's shareholder revolt over DEI
Nike shareholders voted down a transparency proposal at the company's September 8 annual meeting, receiving less than 1% support according to a September 10 SEC filing. The proposal, backed by faith-based investment firm Inspire Investing on behalf of client William C. Cunningham, would have required Nike to report on the legal, reputational and financial risks of its charitable partnerships, specifically questioning the company's perfect score on the Human Rights Campaign's Corporate Equality Index and whether its health plans cover gender-transition procedures for minor dependents. Nike's board recommended rejecting the proposal, saying its existing review process already addressed such risks. Separately, Nike is set to be removed from the S&P 100 index before trading begins September 21, after nearly 18 years in the blue-chip index, as part of a routine rebalancing; the company's market capitalization has fallen more than $200 billion since its November 2021 peak, a decline Nike attributes in part to increased competition and a 13% currency-neutral revenue drop in Greater China.
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13 September 2026
- Inside Nike's stock collapse Fox News
- Shareholders reject transparency proposal Fox News