ExxonMobil To Vote On Gay Protections

NY Comptroller Pressuring ExxonMobil for approval.

Sunday, May 27, 2012  |  Updated 9:32 PM CDT
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ExxonMobil To Vote On Gay Protections

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ExxonMobil Chairman Rex Tillerson speaks at a press conference after the ExxonMobil annual shareholders meeting in 2011.

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Stockholders of Texas-based oil giant ExxonMobil are set to vote Wednesday on a proposed company policy to ban discrimination against gay or transgender workers, a resolution pushed by New York Comptroller Thomas DiNapoli.

The comptroller's office says it has used the influence it has from investing the $150 billion state pension fund's stock portfolio to help persuade 27 other big corporations to adopt new anti-discrimination policies. Previous attempts with ExxonMobil have failed.
   

Fund investment officials remain undeterred, noting that corporate management, controlling most shares, can later quietly make the changes.
   

ExxonMobil calls the measure "unnecessary" for its 82,000 workers worldwide. It says it already prohibits discrimination based on gender identity or sexual orientation.
   

DiNapoli -- who represents 16 million shares, less than 1 percent of the total -- disagrees.

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