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.
The hedge fund has criticised Exxon’s poor returns, spending on fossil fuels and lack of clear plans for the energy transition.
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First this: Colonial Pipeline, which delivers 45 percent of the East Coast’s fuel, should be back online by the end of the week, but expect more of these dramas with more disastrous effects as ransomware becomes big business. DarkSide, which is spinning itself as a moral-minded good guy who just made a mistake, has a press office, makes charitable donations and partners with legitimate companies. The Justice Department in April created a task force to root out and respond to ransomware after what was the worst year ever for attacks. An estimated 2,400 companies, governments, hosp
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.
Legal & General Investment Management (LGIM) owns Exxon shares worth nearly $1 billion, according to Refinitiv data. It disclosed its voting plans in a blog on Tuesday. Exxon s annual shareholders meeting will be held on May 26.
David Tyrie, Head of Digital, Bank of America
John Hoeppner, Head of US Stewardship and Sustainable Investments, Legal & General Investment Management America (LGIM America)
Karen Karniol-Tambour, Co-Chief Investment Officers for Sustainability, Bridgewater Associates
Lia Cao, Head of Wholesale Payment Solutions, JPMorgan Chase
Matthew Sueoka, Vice President and Head of Global Strategy, Partnerships & Enablement, Amex Digital Labs
Michael Sonnenshein, CEO, Grayscale Investments
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