Right, but those mutual fund managers don’t just vote “yes” because they aren’t paying attention. If anything, they are paying lots of attention, and get special treatment, since they own so much of the company, and were likely consulted ahead of this move.
And they are most definitely not bleeding-heart liberals. If they voted for this proposal it’s because they think it will lead to better outcomes for the company.
Actually, that’s exactly what they think.
The anti-DEI crowd thinks exclusively in zero-sum outcomes. There is exactly one Best Candidate for a position, who happens to look like them. If a different candidate is hired, then the whole process is obviously unfair, because they didn’t hire the one
whiteright candidate.