Deere Removes Diversity Criteria from Board Bylaws; Disclosure Rate Drops to 78%
Deere updated its bylaws to remove race, ethnicity, gender and other diversity criteria for new board directors following a shareholder proposal from the NLPC. This change coincides with a drop in underrepresented minority board disclosure to 78% from 99%, signaling evolving corporate governance trends that may influence investor risk evaluations.
1. Deere Removes Diversity Language from Bylaws
Deere amended its bylaws following a shareholder proposal by the NLPC, eliminating references to race, ethnicity, gender and other diversity factors in new board director selection criteria.
2. Board Diversity Disclosure Declines
The share of S&P 500 companies reporting underrepresented minority board membership fell to 78% in 2025, down from 99% in 2024, indicating a decrease in diversity disclosures even as formal candidate-pool commitments remain widespread.
3. Implications for ESG and Investor Risk
This governance shift may influence Deere's ESG ratings and appeal to institutional investors, as political and legal pressures reshape board nomination practices and disclosure expectations.