ExxonMobil's sponsorship of last weekend's Masters Golf Tournament has landed the company in hot water with some of its shareholders. The famous tournament is held at the Augusta National Gold Club
in Georgia, which only allows men as members. The shareholders have charged that Exxon's sponsorship of the event violates the company's discrimination policies. ExxonMobil said it determines which
events to support financially based on an assessment of business needs, fit with corporate social objectives and overall effectiveness. Company spokesperson Dave Gardner said that the Masters was
chosen because it provides a unique opportunity to promote the company's messages--including ExxonMobil's support for education--to its wide international audience. A resolution proposed by the
unhappy shareholders 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. Gardner
said the proposal is expected to be addressed in the company's proxy statement that will be submitted to the Securities and Exchange Commission.
advertisement
advertisement
Read the whole story at PROMO Magazine »
