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In a dramatic shake up signaling an accelerating transition away from a fossil fuel economy, a majority of ExxonMobil shareholders voted to replace two of the oil major’s board of directors with an alternative slate of candidates experienced in clean energy and energy transitions.
A tiny hedge fund dealt a major blow to Exxon Mobil Corp on Wednesday, unseating at least two board members in a bid to force…
Losing a much-publicized fight with its shareholders, ExxonMobil became Exhibit A of what goes wrong when companies don't read the room on climate action.
Article content The complete makeup of Exxon Mobil’s board of directors might not be known until next week, the company said on Thursday, with votes being counted in the battle between it and an activist investor over its record on climate change. Two seats on the 12-member board hang in the balance at the biggest U.S. oil producer following Wednesday’s shareholder meeting. Tiny hedge fund Engine No. 1 gained at least two seats on the Exxon board, a huge upset at a company that was once the world’s most valuable. We apologize, but this video has failed to load.
Many say outcome is an encouraging example of active ownership