WASHINGTON -- The U.S. Securities and Exchange Commission this month rejected Ford Motor Co.'s request to keep an anti-gay proposal off its annual meeting proxy. Shareholders will vote on the issue in May.
Ford stockholder Robert Hurley, an Illinois physician, petitioned the company to put up for a shareholder vote a proposal that would remove sexual orientation from Ford's employment anti-discrimination policy. Ford told the SEC that adapting the proposal would hurt its recruitment efforts and "have a material adverse impact on the marketing and sale of company products."
A Ford spokeswoman said the issue will go on the proxy with a company statement of opposition.