Reporting about companies removing diversity, equity and inclusion from their executive pay metrics, Reuters noted that Mastercard removed DEI-related metrics from its pay plan after receiving criticism from NLPC. As a result, the Proposal was excluded from the proxy statement because NLPC achieved its goals without going to a vote. From the article:
Another company changing its compensation terms is Mastercard, which said that starting this year, it would no longer use a modifier tied in part to gender pay parity. The change “reflects the significant progress that has been made since 2021 in the areas of greenhouse gas emissions, financial inclusion and gender pay parity,” Mastercard said in an April filing. A representative declined further comment.
Mastercard had faced a shareholder resolution calling for it to consider eliminating the pay goals, filed by the conservative activist group National Legal and Policy Center. It called Mastercard’s initiative “discriminatory.” Citing the change, Mastercard won regulatory permission to skip a vote on the item.
Luke Perlot, an associate director for the Center, praised the shift and said next year his group will press companies on whether they actually drop DEI efforts. “We think some companies are just changing the name,” he said.
Read the full story at Reuters.
