Disney Omits 'Diversity' from Annual Report for First Time in Years

In an unexpected shift, Disney chose not to incorporate the term 'diversity' within its latest annual report, a first since 2019 as per documents from the SEC analyzed by Business Insider. Also absent were 'DEI' (Diversity, Equity, and Inclusion) and 'D&I' (Diversity and Inclusion).

This departure comes after the company rearranged its DEI strategies in February and launched a 'Global Belonging Week' this past October, focusing more on terms like 'inclusion' and 'belonging.' These changes align with the broader politicization of diversity-related terms during Donald Trump's ongoing presidential term.

Disney’s regulatory filing, the annual 10-K, traditionally offers investors insights into the organization’s operations, encompassing details such as risk factors and executive pay. On the matter of diversity, or rather its absence, the filing made no reference to 'inclusion' or 'DEI,' though 'equity' was mentioned frequently, strictly in financial contexts.

Focus on Inclusivity in Human Capital

The report did note 'inclusive' practices under 'human capital,' highlighting Disney's dedication towards talent development and establishing an engaging, inclusive workplace culture. Additionally, the company disclosed plans to introduce fresh leadership development and coaching ventures in its fiscal year 2025.

Industry-Wide Language Shift

This shift mirrors a larger industry trend noted by Mita Mallick, a workplace strategist, who has observed companies increasingly substituting 'DEI' with less politically-charged terms like 'culture' and 'belonging.'

Mallick pointed out that companies have reduced the use of 'DEI' by an astonishing 98% by 2025 compared to the previous year, according to research from Gravity Research analyzing over a thousand public documents from prominent companies between January 2023 and May 2025.

Reflecting on Past Reports

Looking back, Disney's reports from previous years consistently detailed their DEI objectives alongside various initiatives. These included talent incubator programs aimed at fostering underrepresented voices, veteran employment initiatives, and numerous employee-led groups supporting diverse communities across the organization.

From tailored development for creative talents from underrepresented backgrounds to innovative talks and networking groups, past commitments underscored Disney's dedication to a dynamic diversity agenda.