Reposting @mrw+1tCguGtp
“The issue is that Nike linked executive compensation to achieving highly ambitious DEI goals, which led leaders to make decisions primarily to maximize their own pay. While diversity itself is not the problem, these incentives essentially created discriminatory quotas that undermined meritocracy. This approach resulted in the rapid promotion of underqualified individuals into key roles that make crucial decisions and set strategies for the company.
https://www.cnbc.com/amp/2021/03/11/nike-sets-diversity-goals-for-2025-ties-executive-comp-back-to-them.html
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Bill Ackman, activist investor whose hedge fund invests in companies which have “lost their way,” recently acquired a large stake in Nike and commented on DEI just three months ago: https://youtube.com/watch?v=bkCpQk_K_jg&t=1m15s