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In the hotly contested board director election at ExxonMobil, activist hedge fund Engine No. 1 prevailed. Two of their nominees, Greg Goff and Kaisa Hietala, were elected. This is a stunning rebuke from investors to the company for its unwillingness to adapt its strategy for the energy transition. ....
Exxon Mobil CEO disagrees with the recommendations. Leading proxy advisory firms throw their weight behind the recommendations. Exxon Mobil’s (NYSE: XOM) investor meeting is on May 26 and the company has been facing increasing pressure from activist investor Engine No. 1 to shake up its board since December of last year. Engine No. 1 has recommended its own slate of four new directors. With some leading proxy advisory firms throwing their weight behind the recommendations, the company faces heightened pressure. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. Backing from proxy advisory firms just adds to the pressure! ....