ExxonMobil is under fire for sponsoring events that some of its shareholders describe as sexually discriminatory.
A group of shareholders, including Martha Burk, who filed the proposal, say that Exxon’s sponsorship of the Masters Golf Tournament, which is held at the Augusta National Golf Club, a men’s-only golf club, violates the company’s discrimination policies, according to news reports
The proposal is expected to be addressed in the company’s proxy statement that will be submitted to the Securities and Exchange Commission on Wednesday, ExxonMobil spokesperson Dave Gardner said.
In response to Burke’s proposal, ExxonMobil said that it determines which organizations and events to support financially based on an assessment of business needs, fit with corporate social objectives and overall effectiveness. Gardner said that ExxonMobil chose to sponsor the Masters Tournament because it provides a unique opportunity to promote the company’s messages, including ExxonMobil’s support for education, to its wide international audience.
The resolution calls for the company to report all spending on sponsorships and at venues that discriminate against women, and how such distribution of funds fits with company policy, the reports said.
The annual tournament, which begins Thursday, has come under fire recently for being held at a club that denies membership to women.
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