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Tiny activist investor forces Exxon CEO to chart a greener, more diversified course By Kevin Crowley and Scott Deveau on 5/27/2021 Exxon Mobil CEO Darren Woods (third from left) HOUSTON (Bloomberg) - Exxon Mobils CEO Darren Woods was dealt a stunning defeat by shareholders when a tiny activist investment firm snagged at least two board seats and promised to push the energy giant to diversify beyond oil and fight climate change. For Woods, who had aggressively opp...

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San Francisco-based Engine No. 1 won two seats on the company's board, according to a preliminary tally.

Investor with a tiny stake in ExxonMobil scored historic climate victory when it won two seats on the oil giant’s board.

Institutional Shareholder Services, the influential proxy adviser, is backing three dissident candidates to the board of ExxonMobil in the first proxy contest to push a major oil company to make a significant transition to clean energy. The support of ISS is a coup for the new impact investment firm, Engine No. 1, which put up the slate that ISS endorsed. After Engine No. 1 first announced its proxy campaign in December, Exxon took steps to refresh its board, adding new board members, including...

Tuesday, February 23, 2021  Oil prices were off a bit in early trading on Tuesday, but are nonetheless trading close to more than one-year highs after soaring on Monday. The price hike comes shortly after Goldman Sachs forecast that oil prices would climb into the $70s over the next few months and after it became clear that U.S. oil production and refineries will take a bit of time to resume their normal level of output after the Texas Freeze knocked out oil refineries and oil production. Texa...

LONDON/HOUSTON (Feb 22): Exxon Mobil Corp has already upped its climate plans, only three months into an activist investor’s campaign to force change inside the company. Now the group, Engine No. 1, is pushing the oil giant to set a new goal: net-zero greenhouse gas emissions by 2050. Engine No. 1 released a letter on Monday reiterating its call for Exxon to overhaul its board of directors by adding four new members who have the expertise to steer the company towards climate neutrality. That�...

Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs ExxonMobil on Tuesday pledged $3 billion to lower emissions in a bid to bolster its environmental record even as it slashed overall capital spending and vowed to safeguard its dividend. Executives, while declining to directly address a news report that ExxonMobil and fellow supermajor Chevron Corp. had discussed a potential tie-up, also said they continue to explore strategic merger and acquisition (M&...