In this Sept. 15, 2014, file photo, Netflix CEO Reed Hastings arrives for the 'Netflix' Launch Party in Paris. (AP Photo/Jacques Brinon, File)
SAN FRANCISCO (AP) --
Facebook is nominating to its board of directors a PayPal executive who recently served as finance chief of the charitable organization run by CEO Mark Zuckerberg and his wife Priscilla Chan.
Peggy Alford would be the first African American woman to serve on Facebook's board. Her naming follows pressure from civil rights groups on the company to diversify its board.
Meanwhile, Netflix CEO Reed Hastings and former White House chief of staff Erskine Bowles are stepping down from Facebook's board. Both served since 2011. Hastings leaves Facebook as the social media company is getting increasingly into video offerings, potentially competing with Netflix.
Disney CEO Bob Iger, however, said earlier Friday that he's not leaving Apple's board, despite both companies now streaming video.
Pepsi soft drinks in plastic bottles are on sale at a grocery store in New York on Weds., Nov. 15, 2023. (AP Photo/Ted Shaffrey, File)
PepsiCo confirmed Friday that it's ending some of its diversity, equity and inclusion initiatives, even as rival Coca-Cola voiced support for its own inclusion efforts.
In a memo sent to employees, PepsiCo CEO Ramon Laguarta said the company will no longer set goals for minority representation in its managerial roles or supplier base. The company will also align its sponsorships to events and groups that promote business growth, he said.
Laguarta wrote that inclusion remains important to PepsiCo, whose brands include Gatorade, Lay's potato chips, Doritos, Mountain Dew as well as Pepsi. The Purchase, New York-based company's chief diversity officer will transition to a broader role focused on employee engagement, leadership development and ensuring an inclusive culture, he said.
Since President Donald Trump returned to the White House last month, U.S. government agencies, companies and schools have rushed to reevaluate policies and programs they adopted with the goal of reducing discrimination against members of minority groups, women and LGBTQ+ people.
Trump ended DEI programs within the federal government and has warned schools to end DEI programs or risk losing federal money.
PepsiCo's rollback came as Coca-Cola reaffirmed support for its DEI efforts.
In its annual report, Atlanta-based Coke warned that its business could be negatively affected if it is unable to attract employees that reflect its broad range of customers.
"Failure to maintain a corporate culture that fosters innovation, collaboration and inclusion … could disrupt our operations and adversely affect our business and our future success," the company said.
Coca-Cola has set a goal of having women in 50% of its senior leadership roles by... Read More
