When it comes to shareholder action, United for Respect (UFR) is hoping the third time’s the charm.
The advocacy group has engaged in a years-long campaign asking Walmart to change its employee safety, pay and diversity policies, plans to re-file a shareholder action it floated in 2023 and 2024 once again in 2025.
The proposal, which failed both last year and this year, asks the company to “conduct a third-party, independent racial equity audit analyzing Walmart’s adverse impacts on Black, Indigenous and People of Color (BIPOC) communities, and to provide recommendations for improving the company’s racial equity impact.”
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TaNeka Hightower, a Walmart employee based in Memphis, Tenn., told Sourcing Journal earlier this year that she planned to help UFR re-file the proposal in 2025. But now, she noted, the stakes have become higher.
That’s because, just ahead of Black Friday, Walmart leadership joined the list of companies hopping on the “anti-woke” train with Robby Starbuck, the conservative activist behind companies like Tractor Supply Company and Lowe’s ditching their diversity, equity and inclusion (DEI) efforts.
In a November X post, Starbuck called Walmart’s policy changes “the biggest win yet for our movement to end wokeness in corporate America,” claiming some of the credit for the retail giant’s actions.
At the time, Starbuck announced that Walmart decided not to participate further in the Human Rights Campaign’s Corporate Equality Index; elected not to extend its Racial Equity Center initiative, which was established after George Floyd was killed in 2020; chose to “evaluate supplier diversity programs and ensure they do not provide preferential treatment and benefits to suppliers based on diversity” and more.
Walmart also noted it would drop “DEI” from its corporate vocabulary, instead moving toward an attitude of “Belonging.”
“We’ve been on a journey and know we aren’t perfect, but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone,” the company said in a statement at the time.
But not everyone gets the feeling that “a Walmart for everyone” is a promise being kept by the Bentonville, Ark., retail giant.
That, in major part, is the reason that Hightower and UFR announced their commitment to resubmitting the shareholder proposition for a racial diversity audit.
“Walmart’s workforce deserves better than hollow promises,” Hightower said in a statement. “For years, Walmart has claimed to value diversity and inclusion, yet its actions tell a different story. Rolling back key equity initiatives and refusing transparency only deepens the systemic inequities faced by people of color within the company.”
Walmart has overtly opposed the proposal both times it has been submitted in the past, and because the Walton family owns about 45 percent of the company’s shares, passing shareholder action they disapprove of can prove difficult.
Nonetheless, Bianca Agustin, co-executive director of UFR, has said in past interviews with Sourcing Journal, the advocacy group hopes to garner at least 20 percent of shareholders in favor of the proposal. That’s because it’s standard practice for major corporations to engage with shareholders about a proposal if at least one-fifth of shareholders indicate interest in it.
For Hightower, shareholders passing the racial equity audit proposal would be the first step in change she believes should have begun long ago.
“As a woman of color working at Walmart for nearly a decade, I’ve found it nearly impossible to advance in the company. A racial equity audit is not just necessary—it’s overdue. Shareholders have the power to hold Walmart accountable and push for meaningful change that supports its workers and strengthens communities,” she said in a statement.
The shareholder proposal will be put forth in a more conservative political environment this time around, as President-elect Donald Trump prepares for his second term in office and advocates like Starbuck vow to turn other companies away from their “woke” policies.
But Agustin and her co-director, Terrysa Guerra, urge shareholders to pause for a moment and consider the economic benefits of a transparent, third-party audit, even despite today’s divided political atmosphere.
“The Racial Equity Audit Proposal presents Walmart with a vital opportunity to reflect on its practices, address systemic harm, and take meaningful responsibility for fostering a truly equitable workplace,” Agustin and Guerra said in a statement. “Shareholders now have a pivotal chance to demand more than words—to push for tangible, measurable actions that ensure equity is not just a promise but a reality across every level of the company.”
