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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 Mobil's 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 opposed the insurgents, it was just the latest setback in a rocky 4 1/2-year tenure that has seen what...

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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 hedge fund manager Jeff Ubben, who last year launched his own impact hedge fund. But ISS, in a meas...