Treasurer Todd Russ Leads Successful Shareholder Engagement
Oklahoma State Treasurer Todd Russ announced a successful outcome in the state’s shareholder engagement with The Boeing Company. The agreement marks a major win for fiduciary responsibility and collaborative corporate governance on behalf of Oklahoma’s investments.
The Treasurer’s Office, acting through the Tobacco Settlement Endowment Trust (TSET), considered filing a shareholder proposal to improve Boeing’s compliance and transparency with federal contracting rules under President Trump’s executive order limiting DEI practices.
Instead of filing immediately, Treasurer Russ chose a professional, good-faith dialogue with Boeing’s leadership. That approach achieved tangible progress without a formal filing.
Boeing Clarifies Policies on DEI, Compensation, and Governance
After meetings with Boeing’s Secretary to the Board and General Counsel, the Treasurer’s Office confirmed several key policy clarifications and changes:
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Boeing does not include DEI metrics in executive compensation.
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Boeing does not use racial or gender quotas in any business area.
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Boeing does not participate in the Human Rights Campaign’s Corporate Equality Index as of 2025.
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Boeing has suspended its Business Resource Groups and is reviewing that internal structure.
Boeing Affirms Merit-Based Employment Practices
The commitments were verified through Boeing’s official proxy statements and direct correspondence with its General Counsel. These confirm that the company maintains a merit-based, nondiscriminatory system for hiring, advancement, and pay.
Boeing’s 2024 proxy statement reads:
“Boeing strictly prohibits discriminatory hiring practices and maintains a merit-based performance system with procedures aimed at encouraging equality of opportunity, not of outcomes.”
Boeing’s General Counsel added,
“Our non-participation in the HRC will be apparent in January when their report comes out and before our proxy vote occurs.”
Oklahoma’s Fiduciary Leadership Gains National Recognition
“This is a clear example of how Oklahoma can lead with both prudence and stewardship,” said Treasurer Todd Russ. “While preparing to file a proposal, we engaged Boeing respectfully and professionally, and the result is a win-win. The company strengthened its compliance posture, and our beneficiaries are better protected from potential legal and reputational risks as well as billions in loss of dollars from federal contracts.”
The Treasurer’s Office worked with Bowyer Research to assess the proposal. Together, they confirmed Boeing’s changes made a formal shareholder filing unnecessary.
Commitment to Transparency and Fiduciary Excellence
As one of Oklahoma’s largest corporate employers, Boeing’s responsiveness highlights the impact of open, professional dialogue between investors and corporations.
The Treasurer’s Office continues reviewing additional shareholder engagement opportunities to ensure all state investment funds, including TSET, meet the highest fiduciary and legal standards.
Responsible Stewardship and Investor Protection
“This outcome reflects exactly what responsible stewardship looks like,” Russ said. “We’re safeguarding Oklahomans’ investments, ensuring companies follow the law, and showing that collaboration often accomplishes more than confrontation.”