An unprecedented fight over who should sit on the board of Exxon Mobil Corp. is turning into a referendum on CEO Darren Woods.
(Bloomberg) An unprecedented fight over who should sit on the board of Exxon Mobil Corp. is turning into a referendum on Chief Executive Officer Darren Woods as a decades-long struggle by climate campaigners comes to a head.
Activist investor Engine No. 1 LLC wants to replace one-third of Exxon’s board in an effort to force the Western world’s largest oil explorer to embrace a transition away from fossil fuels and end a decade of what it calls “value destruction.” Shareholders are set to gather virtually for their annual meeting on May 26.
ExxonMobil activist battle turns climate angst into referendum on CEO
An unprecedented fight over who should sit on the board of ExxonMobil is turning into a referendum on chief executive Darren Woods as a decades-long struggle by climate campaigners comes to a head. By Bloomberg 24/05/2021, 3:17 am
Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., speaks during the World Gas Conference in Washington, D.C., U.S, on Tuesday, June 26, 2018. Photographer: Andrew Harrer/Bloomberg
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Exxonâs activist investors spin climate dispute into a referendum on CEO Darren Woods By Kevin Crowley on 5/24/2021
Exxon Mobil CEO Darren Woods
HOUSTON (Bloomberg) An unprecedented fight over who should sit on the board of Exxon Mobil Corp. is turning into a referendum on Chief Executive Officer Darren Woods as a decades-long struggle by climate campaigners comes to a head.
Activist investor Engine No. 1 LLC wants to replace one-third of Exxonâs board in an effort to force the Western worldâs largest oil explorer to embrace a transition away from fossil fuels and end a decade of what it calls âvalue destruction.â Shareholders are set to gather â virtually â for their annual meeting on May 26.
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