Colgate Shareholders Opt to Keep Diverse Board Candidate Program

Shareholders struck down a proposal to stop Colgate-Palmolive Co. from considering DEI during its board director candidate selection process, according to preliminary results announced Friday at the company’s annual meeting.

The National Legal and Policy Center submitted the resolution for an investor vote after unsuccessfully approaching Colgate behind-the-scenes. The think tank has, however, seen wins after engaging other companies: American Express Co., Deere & Co., and Goldman Sachs Group Inc. all abandoned their board candidate diversity criteria over the past year.

Colgate’s board candidate diversity criteria run counter to the “overwhelming consensus” of American companies, Paul Chesser, director of the ...