by Christopher Freeburn | March 20, 2013 12:08 pm
The Boy Scouts’ opposition to allowing homosexual scouts has cost the organization yet another event sponsor.
Chipotle Mexican Grill (NYSE:CMG) has withdrawn from a deal to provide $4,200 in restaurant coupons to attendees at the Boy Scouts’ annual “Scout-O-Rama” to be held in Salt Lake City in May. The company says it is pulling out of the event because its anti-discrimination policy forbids it from sponsoring organizations that discriminate on the basis of sexual orientation, ABC News notes.
The decision to offer the coupons was apparently made at a local or regional level. The company’s corporate-level executives ended the deal when they learned about it.
Pressure to end its ban of gays has been mounting against the Boy Scouts of America. Earlier this year, the organization’s executive board announced that it was considering a proposal to allow local chapters to make their own decisions about whether to admit gay scouts. A vote on the proposal was later postponed until May.
In February, President Barack Obama called on the Boy Scouts to end its ban on gay scouts.
Shares of Chipotle Mexican Grill rose more than 1% in Wednesday midday trading.
Source URL: http://investorplace.com/2013/03/chipotle-pulls-out-of-boy-scouts-event-over-gay-ban/
Short URL: http://investorplace.com/?p=323699
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.