Company: ELV
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001156039-25-000046
Chunk: 82

Company: Elevance Health, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 82
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 found that the positive relationship between management diversity and financial performance was particularly strong in the health care sector.[2]

• A 2024 meta-analysis found that companies with diversity and inclusion initiatives experience a range of benefits that include increased innovation, enhanced employee engagement and satisfaction, and improved decision-making.[3]

Companies need to protect their workplace against discrimination; and investors must have meaningful data to monitor their effectiveness in doing so. Unfortunately, studies have also shown that diverse employees face barriers in recruitment, hiring, and promotion.[4]

Elevance has not yet shared sufficient hiring, promotion, or retention data to assess whether it will be able to build, utilize, and maintain successful, diverse management teams. Between 2021 and 2024, there was a 263 percent increase in promotion rate disclosure, a 189 percent increase in hiring rate disclosure, and a 175 percent increase in retention rate disclosure.[5]

#### 2025 Proxy Statement73

#### Shareholder Proposal
Companies that release or have committed to release more diversity and inclusion data than Elevance include, but are not limited to: AmEx, Bank of America, Bank of New York Mellon, Baxter International, Biogen, CVS Health, Discover Financial Services, KKR, and Thermo Fisher Scientific.

[1] https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-matters-even-more-the-case-for-holistic-impact

[2] https://www.asyousow.org/report-page/workplace-diversity-and-financial-performance

[3] https://www.researchgate.net/publication/380115625_ENHANCING_ORGANIZATIONAL_PERFORMANCE_THROUGH_DIVERSITY_AND_INCLUSION_INITIATIVES_A_META-ANALYSIS

[4] https://www.bloomberg.com/opinion/features/2024-07-29/white-men-the-most-likely-to-get-hired-even-with-dei-findsresearch; https://mitsloan.mit.edu/ideas-made-to-matter/women-are-less-likely-men-to-be-promoted-heres-one-reason-why

[5] https://www.asyousow.org/our-work/social-justice/workplace-equity/

#### Recommendation
The Board recommends that shareholders vote AGAINST this proposal.

We already provide transparent and regular disclosures necessary to assess our workforce composition, practices and policies. The Board believes, therefore, that an additional report on the effectiveness of diversity, equity and inclusion efforts as requested by the proposal is unnecessary because