For U.S. publicly traded companies weighing the future of their diversity, equity and inclusion programs in the wake of President Donald Trump’s executive order gutting affirmative action measures, the risks go beyond getting hit with a federal probe.

The orders cut funding for so-called DEI initiatives across all agencies in order to "end DEI inside the federal government," according to Trump administration officials. They also rescind numerous previous executive orders and actions from past administrations that aimed to promote diversity throughout the federal government.

Federal agencies, employees and contractors are trying to process how President Donald Trump’s sweeping anti-DEI executive order will upend their work.

Costco's shareholders overwhelmingly rejected a proposal that called for assessing the risk of keeping its diversity, equity and inclusion (DEI) programs in place.