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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...

ExxonMobil has faced battles at annual meetings over climate change for decades, with shareholders pushing resolutions to make it take stronger action.

Investment news and analysis for financial advisers. Extensive coverage and expert comment on important topics in the financial advisory industry.

Things are changing in America and you either go with the flow or get left behind.

What Happens to Exxon Now? Photo: Andrew Caballero-Reynolds/AFP (Getty Images) An activist investor that staged a coup at Exxon on Wednesday over the company’s mishandling of climate change and got two new board members elected has generated headlines around the world. Advertisement But that coup is a little more complex than it seems at first glance. Wednesday’s win was, in part, a victory because of just how terrible Exxon has been up until now at planning for its future, and demonstrates how far we have to go in terms of making real change at the world’s major fossil fuel companies.