"The Mouse House didn't mention "diversity" in its 2025 annual report for the first time since 2019, according to SEC filings reviewed by Business Insider. It also didn't mention the phrases "DEI" or "D&I." This change comes after Disney revamped its DEI initiatives in February and introduced a "Global Belonging Week" event series in October. That event series favored phrases like "inclusion" and "belonging" over "diversity" and "DEI," which have become hot-button political issues in President Donald Trump's second term."
"Disney's 10-K form, which it files once a year as a public company, gives investors insight into its business, including information like risk factors and executive compensation. The company reported quarterly earnings on Thursday morning. "Diversity" wasn't included in Disney's latest 10-K, nor were the terms "inclusion," "DEI" (Diversity, Equity, and Inclusion), or "D&I" (Diversity and Inclusion). The word "equity" was included 130 times, but only in the context of finance."
Disney's 2025 annual 10-K omitted the word "diversity" and did not use the terms "DEI" or "D&I." The company revamped DEI initiatives in February and held a "Global Belonging Week" in October that favored "inclusion" and "belonging." The 10-K used the word "equity" 130 times, exclusively in financial contexts. The filing mentioned "inclusive" under a human capital section and described human resources programs designed to develop talent and enhance workplace engagement. The company also noted new leadership development and professional coaching opportunities for the 2025 fiscal year. The language shift coincides with a charged political environment.
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