Coors beer is displayed on a store shelf on February 13, 2024 in San Rafael, California.
Justin Sullivan | Getty Images
Molson Coors It’s the latest in a growing number of companies making changes to their diversity, equity and inclusion policies.
In an internal memo sent Wednesday and obtained by CNBC, Molson Coors executives said the company would eliminate supplier diversity quotas, adding that the quotas could “become complex and subject to factors outside (the company’s) control.” influence”.
But the brewer said it will continue to ensure its suppliers represent the company’s diverse consumer base.
“We are ensuring that our executive incentives are tied to business performance and do not include aspirational representation targets starting next year,” company officials wrote in the memo.
Molson Coors also said it is developing the “next evolution” of company training that will focus on key business objectives rather than the previous DEI-based training program, which the company said all current U.S. employees have already participated in.
Molson Coors will rename its employee resource groups to business resource groups while seemingly retaining the groups’ existing functionality, and will cease participating in any voluntary third-party rankings of “best” companies in the U.S., including the Human Rights Campaign’s Corporate Rankings The Equality Index ranks companies based on a measure of corporate equality for LGBTQ+ individuals. The brewer has previously received a perfect 100 points.
The company said: “This will not impact on the benefits we offer our staff, nor will it change or diminish our commitment to fostering a strong culture where every member of our staff knows they are welcome in our pubs.”
The company will also ensure that all corporate charitable giving programs are focused on supporting “core business objectives,” such as alcohol responsibility, disaster relief efforts and promoting access to higher education. Since 2011, Molson Coors has raised more than $700,000 for LGBTQ+ organizations nationwide through its Tap Into Change program and sponsorship of Pride festivals.
While conservative activist Robby Starbuck described the moves as preemptive changes in response to his recent investigation into the company’s DEI practices, Molson Coors executives told CNBC that the decision “comes as early as March.” It’s been a work in progress since,” was not a response to Starbucks’ request.
Molson Coors’ decision follows a summer wave of retailers backing off on DEI efforts.
rural retailers tractor supply when it started to become popular sever ties Partnered with LGBTQ+ advocacy group Human Rights Campaign and rescinded previous DEI goals, such as increasing the number of employees of color in management. company likes harley davidson and Lowe’s followed suit one after another. recent, Ford senior executive key plan Cut supplier diversity quotas and cut the company’s ties to HRC metrics.
Corporate DEI practices are under renewed focus following the murder of George Floyd and the 2020 Black Lives Matter protests, but after a Supreme Court decision subversion Affirmative Action in Colleges. Although the reversal of affirmative action involves academic institutions and has no legal implications for corporate initiatives, businesses worried Growing anti-DEI sentiment will permeate corporate America.
