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Influential proxy advisor Institutional Shareholder Services (ISS) on Friday threw its weight behind a small hedge fund's nominations for Exxon Mobil's board in a decision that could affect the outcome of a bitter corporate battle.
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Exxon’s activist investor gains an unusual ally in its push for change The Irving-based oil giant’s CEO tells CNBC that it offered to work with Engine No. 1. The sign on April 28 at an Exxon service station in Philadelphia.(Matt Rourke) 11:34 AM on May 14, 2021 CDT An investor pushing for changes at Exxon Mobil Corp. got a boost from a prominent advisory firm, which urged shareholders to support some of the activist’s board nominees. Institutional Shareholder Services Inc. weighed in Friday on the months-long fight between Engine No. 1 and the oil and gas giant. It recommended investors...
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...
Governance advisor Pensions & Investment Research Consultants (PIRC) on Wednesday recommended Exxon Mobil shareholders vote in favor of four hedge fund…
PIRC sides with activist investor in Exxon boardroom battle PIRC has added its name to the list of shareholders gearing up with side with activist investor Engine No. 1. Governance advisor Pensions & Investment Research Consultants (PIRC) has recommended Exxon Mobil shareholders vote in favour of four hedge fund board nominees, adding further fuel to the battle for Exxon’s boardroom. Exxon and activist hedge fund Engine No. 1 are battling over board seats and Exxon’s strategy to meet demands for lower-carbon energy. The fund has nominated four board candidates and...