Page 3 - Engine No 1 News Today

Engine No. 1s "Reenergize Exxon" campaign received strong shareholder support. It successfully placed three new directors on the companys board. ExxonMobil now has the opportunity to develop a bold new strategy that will support shareholder returns and the transition to a low carbon economy.

Exxon says activists pushing cleaner energy won a third seat on its board. June 2, 2021, 4:14 p.m. ETJune 2, 2021, 4:14 p.m. ET Credit...Jim Young/Reuters Activist investors who dealt a stunning defeat to Exxon Mobil last week secured a third seat on the company’s board on Wednesday when the oil giant announced updated results of a shareholder vote. The investors, a small hedge fund called Engine No. 1, last week secured enough votes to put two people on the oil producer’s board, the first ...

Biden has big, expensive plans to boost the economy.

A surprising mix of environmentalists, pension fund managers and big money investors have scored startling victories against oil and coal, opening new battle fronts in the climate fight.

In the hotly contested board director election at ExxonMobil, activist hedge fund Engine No. 1 prevailed. Two of their nominees, Greg Goff and Kaisa Hietala, were elected. This is a stunning rebuke from investors to the company for its unwillingness to adapt its strategy for the energy transition.

Engine No. 1 owns just 0.02% of ExxonMobil. But it got at least two activist members onto the ExxonMobil board, to help steer the oil giant away from fossil fuels.

The oil giant’s unexpected boardroom defeat by an activist investor hinged on a few key moments.

Image Image Darren Woods, Exxon Mobil’s C.E.O., suffered a big defeat in his fight with an activist investor.Credit...Brendan McDermid/Reuters The little Engine … Exxon Mobil suffered a stunning loss at its annual shareholder meeting yesterday, as a small new activist investor focused on climate change, Engine No. 1, won at least two seats on its 12-member board. To corporate America, the upset was a clear sign that company boards and leaders need to pay attention to environmental, social a...

Deals, votes and lawsuits loom over its annual shareholder meeting.

Engine No. 1 is a small hedge fund, with only an 0.02% stake in Exxon, but it had the backing of pension funds and other major shareholders of Exxon.