Micron Technology, Inc. (Nasdaq: MU), today announced the release of its third annual diversity, equality and inclusion (DEI) report, demonstrating advances with regionalized commitments and initiatives across the U.S., Asia and Europe. The report measures progress to create a positive, diverse culture for the company's stakeholders and examines various facets, including race and ethnicity, gender job roles, compensation and giving.
Micron's efforts, including the appointment of Lynn Dugle to its board of directors, drove steady growth in the number of women in top leadership roles in fiscal 2020. Dugle's appointment increased representation on Micron's board to more than one-third. In addition, the company doubled the number of team members self-identifying as living with disabilities and increased membership in its employee resource groups (ERGs) by 84%, creating 25 new chapters worldwide. Micron also expanded its pay equity mandate this year to include stock awards and achieved full parity for these awards for all underrepresented groups, including U.S. veterans and people with disabilities globally.
'Micron's commitments further reinforce our strong support toward building a more inclusive workplace and society grounded in equality where underrepresented groups have ample opportunity to advance at all levels,' said Micron Vice President of Diversity, Equality and Inclusion Sharawn Connors. 'We value the diverse voices of our team members around the world, and they play an important role in influencing meaningful change in Micron's business and the communities in which we operate.'
In addition to making powerful commitments to adopt new hiring practices and to engage in targeted programs to strengthen DEI within Micron globally, the company identified key areas outside its business that it deems essential to creating deep and lasting gains toward a more inclusive economy. Micron announced plans to partner with RBC Global Asset Management to provide $50 million in an impact investment strategy that seeks to positively support underserved communities nationally, including those in the San Francisco Bay Area, Washington, D.C., northern Virginia and Maryland. The $50 million allocation brings Micron's total support for firms owned and managed by members of underrepresented groups to $250 million in calendar 2020. Micron has extended its focus to the supply chain and aims to double its annual spending with diverse-owned suppliers by fiscal 2023.
Micron's annual report also details its efforts throughout the year to address underserved communities' needs. These include prioritizing Micron Foundation's funding to help underrepresented groups during the pandemic, especially families disproportionately affected by COVID-19, and contributing $1 million to the NAACP Legal Defense and Education Fund. Micron has also formed a social justice council to facilitate conversations with leaders in the communities where it operates and work toward identifying actionable solutions to drive significant change.
The full Micron For All: 2020 Annual Report can be found at micron.com/dei.
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions. Through our global brands - Micron and Crucial - our broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, 3D XPoint memory, and NOR, is transforming how the world uses information to enrich life for all. Backed by more than 40 years of technology leadership, our memory and storage solutions enable disruptive trends, including artificial intelligence, 5G, machine learning, and autonomous vehicles, in key market segments like mobile, data center, client, consumer, industrial, graphics, automotive, and networking. Our common stock is traded on Nasdaq under the MU symbol. To learn more about Micron Technology, Inc., visit micron.com.
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