ExxonMobil Shareholders Reject Equal Employment Amendment

June 2, 2003 (PLANSPONSOR.com) - For the fifth year in a row, ExxonMobil Corp. shareholders rejected a shareholder resolution to amend the company's written equal employment opportunity policy to include the category of sexual orientation.

The measure was voted down by 73% of the ballots, down from 76% voting no a year ago .   In response to the vote, Chairman and CEO Lee Raymond said t he company has a policy that prohibits any form of discrimination or harassment at any of its work places around the world and that adding a category of sexual orientation was unnecessary, according to a Reuters report.

Overall, shareholders of the Irving, Texas-based company voted to reject 12 proposals.   Among those also rejected were a proposal calling for a report on renewable energy’s economic risks and benefits with 79% opposed. Additionally, a new proposal calling for a report on climate change was nixed with 78% opposed.

While Raymond told shareholders the company was supportive of clean-energy initiatives, he also said he believed fossil fuels like oil and natural gas, which represent about 60% of energy supplies today, would remain the dominant energy sources for at least the next 20 years.   Further, Raymond reiterated the company’s commitment to developing technologies that address the long-term risks of climate change and the reduction of harmful emissions.