Constellation Brands (STZ) is scaling back on its diversity, equity, and inclusion efforts after engaging with anti-DEI activist Robby Starbuck, Bloomberg reported Tuesday, citing a company spokesperson.
The alcoholic beverage producer said it had been considering changes to its DEI programs, but its timeline accelerated after Starbuck approached the company, according to the report.
Constellation will no longer work with advocacy group The Human Rights Campaign, stop lobbying efforts that aren't core to its business, and change the name of its DEI team to "inclusive culture" team, the spokesperson told the news outlet.
The company will also revise its supplier diversity program to more broadly focus on supporting small businesses, according to the spokesperson, as cited by Bloomberg.
Constellation did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 172.21, Change: -0.38, Percent Change: -0.22
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.