Chevron Corp. shareholders on Wednesday rejected a proposal that would have barred the company from using corporate money for political activities, The Center for Public Integrity reported.
The company’s board had urged shareholders to vote against the measure, saying the company’s participation in politics “is an important means of protecting the interests of the Company and its stockholders.”
According to The Center for Public Integrity, Chevron was one the largest corporate super PAC donors in 2012. (The company discloses information about its donations to political committees and trade associations on its website.)
While the measure rejected on Wednesday received little support, the motion’s supporters can refile the proposal next fall.