What happened at Harvard was bad news for DEI in America
The hottest and most closely watched activist battle isn’t happening inside corporate America. It’s taking place at Harvard University, where Bill Ackman has applied the same playbook he has used in campaigns against the likes of Herbalife to one of the most elite and storied institutions in higher education.
The Ackman formula goes something like this: Publicly make your case against management; invite and welcome controversy to generate more buzz; demand a leadership overhaul that includes both the CEO and the board. That this strategy worked so effectively against Claudine Gay, who stepped down as Harvard’s president last week, is a telling sign that academia has more parallels with the business world than many would care to admit.
And if that’s the case, corporate boards nationwide should be on notice that both they and their CEOs face the same risks. I’ll just state it plainly and prepare myself for the onslaught of hate mail: At its core, the attack on Claudine Gay is centred on gender and race.
Accusations of plagiarism, criticism of her response to the 7 October attack by Hamas on Israel and Israel’s invasion of Gaza, and her subsequent disastrous congressional testimony all played a role in her ouster, of course. But when it comes down to it, what Ackman and his allies are really agitating for is a reversal of the way diversity, equity and inclusion (DEI) has become a priority at so many American institutions.
As evidence, consider the letter that Ackman sent Harvard’s governing board on 10 December. In it, he contends that the university’s Office of Equity, Diversity, Inclusion and Belonging is a “major contributing source of discriminatory practices" and “is beyond repair and should be shut down." He also
. Read more on livemint.com
