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The CEI, often dismissed as "middle management corporate BS," plays a role in signaling a company's stance on inclusion efforts. Disney’s desire to exit the index reflects a wider backlash against DEI initiatives, especially amidst political pressure and the conservative narratives around "wokeness" and "cancel culture." The rejection of Disney’s proposal indicates that a minority of shareholders are willing to question or oppose these policies, though only 7% actively voted to remove the CEI participation—a small but significant figure possibly due to disengagement or lack of awareness among investors.