Goldman Sachs to remove race, gender and sexual orientation from board criteria

Goldman Sachs is preparing to remove diversity, equity and inclusion factors from the criteria its board uses to assess prospective directors, deleting a reference to "other demographics" that sources say refers to race, gender identity, ethnicity and sexual orientation, the Wall Street Journal reported.

Reuters said it could not immediately verify the Journal's account and noted that "Goldman Sachs declined a Reuters' request for comment," leaving the change unconfirmed by the firm as of Feb. 16 reporting.

Under the governance committee's current framework, the board evaluates potential candidates on four primary criteria, including a broad definition of diversity described as "viewpoints, background, professional and military experience, as well as other demographic considerations," Reuters and other outlets summarized from the Journal. The planned edit would remove the appended "other demographics" language while leaving the non‑demographic diversity language in place, according to the reports.

The reported decision follows a submission last September by the National Legal and Policy Center, a conservative activist nonprofit and a small Goldman shareholder, which urged the firm to strip demographic DEI factors from its board‑candidate guidance. The Journal and Fox Business said Goldman "struck a deal with the group under which the board would make the change of its own accord and the NLPC would not submit a formal request circulated to shareholders ahead of the company's annual shareholder meeting later this year."

The move would cap a broader rollback of DEI commitments at Goldman. Reuters and Fox Business noted that last year the firm ended a four‑year‑old policy requiring companies to have at least two diverse board members before Goldman advised them on initial public offerings, and removed a "diversity and inclusion" section from its annual filing.

Reports place the action in a wider political and industry context. Reuters tied it to President Donald Trump's campaign against DEI practices and cited other banks, including Morgan Stanley and Citi, as having softened diversity commitments amid pressure. Fox Business framed the change as part of an "anti‑woke" narrative circulating in corporate America and highlighted commentary from outside observers on the trend.

Key details remain unclear and require verification: the exact wording Goldman will adopt, whether the deletion will appear across governance documents or only in committee guidance, the effective date of any change, and whether the NLPC formally withdrew or refrained from filing a shareholder proposal. Fox Business reported the board "plans to remove DEI language in the criteria for its own board members this month," while other reports used "is planning" or "is preparing" language. Obtaining the NLPC September proposal text, any SEC shareholder filings, and the board's revised governance documents would confirm the Journal's account and clarify implementation timing.