Activist investor wins at least 2 seats on Exxon board Activist investor wins at least 2 seats on Exxon board Bloomberg Exxon Mobil shareholders, backed by three of the largest U.S. pension funds, voted to replace at least two board directors Wednesday with activist investor nominees. Taking issue with the company's direction, hedge fund firm Engine No. 1 put forth a slate of four independent director candidates. Exxon's board "needs are directors with experience in successful and profitable energy industry transformations who can help turn aspirations of addressing the risks of climate change into a long-term business plan, not talking points," Engine No. 1 said in a news release Monday.