Custom Truck One Source - 1792 Exchange

Rating Overview

Custom Truck One Source is Lower Risk.

Custom Truck One Source is Lower Risk. The company does not yield to political activism in shaping corporate governance, preventing initiatives that potentially alienate consumers, divide employees, and harm shareholders. Custom Truck One Source implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Overall, the company does not embrace corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach protects free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Lower Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	Lower Risk
Political Actions	No Data

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Lower

Rationale:

Custom Truck One Source has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (1).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Lower

Rationale:

Custom Truck One Source does not appear to discriminate against charitable organizations based on views or beliefs (1).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Custom Truck One Source appears to prioritize diversity over merit in its recruitment and hiring. From its 2024 Annual Report: “At CTOS, we are dedicated to identifying, hiring, and retaining a diverse and skilled workforce” (1). However, in 2025, the company removed DEI langauge from its annual report. To date, the company has not publicly addressed this change, leaving shareholders without clarity regarding the company’s reasoning or future direction (2). Custom Truck One Source appears to prioritize diversity over merit in its leadership composition. From its Corporate Governance Guidelines: “In evaluating director candidates, the Board may also consider the following criteria as well as any other factor that they deem to be relevant: Diversity criteria such as race, ethnicity, gender, cultural background, or national origin.” (3). The company does not provide viewpoint protections for its employees (4)(5).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Custom Truck One Source supports DEI within its business practices. From its 2023 ESG Report: “In 2022, we appointed our first female C-Suite executive, Theresa Bush, as Chief Human Resources Officer, who leads our efforts in diversity, equity, and inclusion” (1). The company also supports ESG within its business practices. From its 2023 ESG Report: “We believe that how we act through our management structures, business ethics, regulatory compliance, data protection, and overall commitment to ESG will drive our current and future progress” (2). However, in 2024, Custom Truck One Source stopped publishing its ESG report. To date, the company has not publicly addressed this change, leaving shareholders without clarity regarding the company’s reasoning or future direction (3).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

Lower

Rationale:

Custom Truck One Source has not used corporate funds to advance ideological causes, organizations, or policies (1).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

N/A

Rationale:

Custom Truck One Source does not operate a PAC or engage in lobbying at this time (1)(2)(3).