Coca-Cola Co. warned that policies that could lead to a less diverse global workforce pose a potential risk to its business going forward.
The Atlanta-based company included the cautionary statement in an annual filing, which comes as a broad range of companies respond to President Donald Trump’s push to end diversity, equity and inclusion programs.
“Our diverse, high-performing global employee base helps drive a culture of inclusion, innovation and growth,” Coca-Cola said in the filing. “If we are unable to attract or retain specialized talent or top talent with diverse perspectives, experiences and backgrounds that reflect the broad range of consumers and markets we serve around the world, our business could be negatively affected,” it said in another part of the filing titled “risks related to our operations.”
The company declined to comment further.
Coca-Cola serves as a federal contractor, supplying drinks to the military and other institutions. Rival PepsiCo Inc., also a federal contractor, has joined a number of other companies in dropping its DEI programs. This includes cutting staff representation targets and expanding its supplier diversity program.
Companies across industries have announced changes to their DEI programs in an effort to avoid criminal investigations under the Trump administration.
Asked last week whether Coca-Cola is changing its DEI policies to adhere to the president’s executive order, Chief Financial Officer John Murphy said the company is “focused on having the best talent around the world,” but added it will “of course, follow any change in regulations at the national level.”
On Thursday, Coca-Cola’s website said DEI is “at the heart of our values and our growth strategy.” It lists goals such as having women hold 50% of senior leadership roles by 2030 and having its US workforce reflect “national census data at all levels.”