View Micron Letter

City Comptroller William C. Thompson, Jr. today sharply criticized Micron Technology for snubbing a majority vote by shareholders calling for the company to specifically prohibit discrimination based on sexual orientation and gender identity.

In December, Micron shareholders overwhelmingly voted in favor of a resolution by the New York City Employees’ Retirement System (NYCERS) calling for the company to take steps to specifically bar such discrimination. However, Micron has now notified the Comptroller’s Office that it plans to ignore the wishes of its shareholders.

“It is surprising to me that your company refuses to accept the clear advantages of strong policies banning discrimination in the workplace,” Thompson said in a letter to Micron Chairman, President and CEO Steven R. Appleton.

The City’s proposal – filed last June - called for Micron to amend its written equal employment opportunity policy to explicitly bar discrimination based on sexual orientation and gender identity. This was the first time NYCERS filed the measure with Micron.

According to a Micron report, 299,901,554 shares – or 55.5 percent - were cast in the proposal’s favor, while 240,749,801 were cast in opposition at the company’s annual meeting in December.

“I find it truly astounding that you would continue to do so despite a 55% shareholder approval,” Thompson said. “Strong anti-discrimination policies are not simply an expression of proper social policy, they made sound business sense.”

This is the first time that a majority of shareholders at any U.S. company voted to ban discrimination based on sexual orientation and gender identity. Although similar resolutions filed by NYCERS and other groups have received increasing support in recent years, no resolution opposed by company management has ever received more than 50% of votes cast in its favor. Similarly, no resolution which requested non-discrimination protection for transgendered workers has ever received more than 50% in its favor.

Despite the voting results, Micron’s General Counsel has told the Comptroller’s Office that the company would ignore the vote and not revise its policies because it feared “expanded legal liability.”

Micron’s decision runs contrary to reforms recently enacted by many other major American companies urged to strengthen anti-discrimination protections. To date, the Comptroller’s Office and New York City Pension Funds have successfully urged dozens of Fortune 1000 companies to bar discrimination based on sexual orientation and/or gender identity and expression.

“I'm disappointed that Micron chooses to ignore the wishes of the majority of shareholders,” said Public Advocate Betsy Gotbaum, a member of the NYCERS Board of Trustees. “Micron's decision diminishes a sense of workplace equality and fair play. Companies that permit discrimination against any of their employees, including bias based on sexual orientation or gender identity, should expect to see continued shareholder action until these practices cease.”

The Pension Funds have more than 2.1 million shares valued at more than $38 million in Micron. NYCERS has more than 706,000 shares valued at more than $13 million.

Thompson serves on the NYCERS Board of Trustees with: Commissioner Stark; New York City Public Advocate Betsy Gotbaum; Borough Presidents Scott Stringer (Manhattan), Helen Marshall (Queens), Marty Markowitz (Brooklyn), Adolfo Carrion (Bronx), and James Molinaro (Staten Island); Lillian Roberts, Executive Director, District Council 37, AFSCME; Roger Toussaint, President Transport Workers Union Local 100; and, Gregory Floyd, President, International Brotherhood of Teamsters, Local 237.

###