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Legal & General backs activist investor over Exxon climate concerns L&G will back an activist investor at Exxon's shareholder meeting later this month, after it voiced concerns about the oil giant's environmental practices. Legal & General, one of Exxon Mobil’s major investors, has said it will back an activist hedge fund at Exxon’s shareholder meeting later this month, after the fund raised climate-related concerns about Exxon’s practices. US oil producer Exxon is battling hedge fund Engine No. 1 over four seats on its 12-member board and the direction of the company...

Investor Legal & General backs activist in Exxon proxy battle By Jennifer Hiller Reuters HOUSTON (Reuters) - Britain's biggest asset manager, Legal & General, on Tuesday said it will vote for an activist hedge fund's board slate at Exxon Mobil's shareholder meeting later this month, fueling a pitched fight over the oil major's future. Top U.S. oil producer Exxon is battling hedge fund Engine No. 1 over four seats on its 12-member board and the direction of the company. The fund has criticized Exxon's poor returns, spending on fossil fuels and lack of clear plans for the energy transition....

Exclusive-New York state pension fund backs activist nominees in Exxon proxy fight By Jennifer Hiller Reuters HOUSTON (Reuters) -New York state's pension fund on Friday threw its support behind an activist fund's slate of nominees to Exxon Mobil Corp's board, heating up a proxy fight for the company's future. The biggest U.S. oil producer Exxon and activist hedge fund Engine No. 1 are battling over board seats following Exxon's historic net annual loss of $22.4 billion for 2020. The fund has criticized the producer for "significant underperformance" and a lagging approach to cleaner fuels. T...

EnergyEXCLUSIVE New York state pension fund backs activist nominees in Exxon proxy fight ReutersJennifer Hiller 1/4 An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young Read More New York state's pension fund on Friday threw its support behind an activist fund's slate of nominees to Exxon Mobil Corp's (XOM.N) board, heating up a proxy fight for the company's future. The biggest U.S. oil producer Exxon and activist hedge fund Engine No. 1 are battling over board seats following Exxon's historic net annual loss of $22.4 bi...

By Reuters Staff 3 Min Read FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim Young (Reuters) - The activist investor leading a proxy fight to reshape Exxon Mobil Corp on Monday named the four directors it wants shareholders to remove at the oil company’s upcoming annual general meeting. The investor, Engine No. 1, is a small fund that last year took on the top U.S. oil producer for what it said was poor financial returns and a lagging approach to cleaner fuels. Exxon since has vowed to cut its debt, invest mo...