Fast Company - What does it mean when one of the largest spirits companies turns away from its DEI goals?

On August 21, conservative activist Robby Starbuck announced via social media that Brown-Forman, the spirits conglomerate that includes brands such as Jack Daniel’s whiskey and Herradura tequila, would be ending its DEI goals and removing the company from the Human Rights Campaign’s Corporate Equality Index. 

In the post, Starbuck takes credit for the move, suggesting that Brown-Forman took this step preemptively to avoid exposure.

It’s unclear what was at risk of being revealed since publicly traded companies tend to share their DEI goals on their websites and annual reports, and HRC’s Corporate Equality Index is widely publicized. However, amid the recent anti-DEI backlash, does Brown-Forman’s move indicate corporate America’s fear of right-wing boycotts or is there more to this move than meets the eye?