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BOSTON (Reuters) - JPMorgan Chase has hired veteran banker Alfredo Porretti to head its shareholder activism defense efforts in North America as investors are launching new campaigns to push corporations into making significant changes, three sources said.
FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky
He will head Shareholder Engagement and M&A Capital Markets for North America and will be based in New York, the sources said.
Porretti was previously head of Shareholder Advisory at independent investment bank Greenhill & Co, and before that worked at Morgan Stanley on the bank’s shareholder activism and corporate defense team.
Private label food group TreeHouse Foods on Tuesday appointed two new independent directors to its board, three weeks after activist investment firm Jana Partners urged the company to consider selling itself.
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(Reuters) - Exxon Mobil Corp on Monday named activist investor Jeffrey Ubben and former Comcast executive Michael Angelakis to its board amid a push by prominent shareholders for it to focus more on clean energy and improve its financial performance.
FILE PHOTO: FILE PHOTO: A view of the Exxon Mobil refinery in Baytown, Texas September 15, 2008. REUTERS/Jessica Rinaldi/File Photo/File Photo
Exxon has fended off attempts in the past to get it to change its policies and leadership, but pressure has mounted since the top U.S. oil producer posted a historic annual loss for 2020 after the coronavirus pandemic slashed energy demand.
5 Min Read
(Reuters) - Exxon Mobil Corp on Monday named activist investor Jeffrey Ubben and former Comcast executive Michael Angelakis to its board amid a push by prominent shareholders for it to focus more on clean energy and improve its financial performance.
FILE PHOTO: FILE PHOTO: A view of the Exxon Mobil refinery in Baytown, Texas September 15, 2008. REUTERS/Jessica Rinaldi/File Photo/File Photo
Exxon has fended off attempts in the past to get it to change its policies and leadership, but pressure has mounted since the top U.S. oil producer posted a historic annual loss for 2020 after the coronavirus pandemic slashed energy demand.
Investment firm Engine No. 1 on Monday reiterated its call for Exxon Mobil Corp, one of corporate America's most iconic brands, to slash its greenhouse gas emissions to zero by 2050, according to a letter sent to the company.