'Other demographics' | Goldman Sachs to eliminate DEI criteria from board selection process

Goldman Sachs is preparing to eliminate diversity factors from the criteria its board uses to identify potential directors, according to reports.

The Wall Street bank plans to remove references to race, gender identity, sexual orientation, and ethnicity from its governance committee guidelines. The committee currently evaluates qualified candidates based primarily on four factors, including a broad description of diversity covering viewpoints, background, work, and military service, along with “other demographics” that list DEI considerations.

Under the proposed revision, the “other demographics” category will be removed, the people said.

Right-wing pressure drives board review

The change follows a private request from the National Legal and Policy Center, a far-right pressure group that holds a small stake in the bank. The group submitted a proposal in September seeking to eliminate DEI-related criteria from the board selection process and asked that it be included in Goldman’s proxy statement ahead of the annual shareholder meeting this spring.