NEW YORK (AP) — Exxon Mobil shareholders have unseated a third board member in their bid to force the oil giant to deal more aggressively with climate change.
The company announced Wednesday that three candidates nominated by a dissident group of shareholders, called Engine No. 1, had been elected to its board of directors. Preliminary tallies had two of the challengers winning seats.
Nine of the 12-member board supported by Exxon were re-elected.
The ouster of the three Exxon board members is another blow to fossil fuel companies facing growing pressure to re-focus their businesses in light of a dangerously warming world. Engine No. 1, a hedge fund that owns just a sliver of all Exxon shares, had asserted the company’s board was ill-equipped to handle the transformations reshaping the energy sector.
The alternative slate of directors had the support of some of the largest money managers in the world, including the nation’s largest public pension funds.
“We are grateful for shareholders’ careful consideration of our nominees and are excited that these three individuals will be working with the full board to help better position ExxonMobil for the long-term benefit of all shareholders,” the group Engine No. 1 said in a statement.
The third new member is Alexander Karsner, senior strategist at X, Alphabet Inc.’s innovation lab. Karsner has invested in large-scale energy infrastructure and cleantech startups.
Exxon, which is based in Irving, Texas, called the results preliminary until an independent inspector validates the election.
“We look forward to working with all of our directors to build on the progress we’ve made to grow long-term shareholder value and succeed in a lower-carbon future,” said Darren Woods, Exxon’s chairman and CEO.
The initial results were announced a week ago, after an unusual shareholder meeting where Exxon had paused the proceedings to allow more time for people to vote. The company had previously said that because of the complexities of the voting process, inspectors might not be able to certify final voting results for “some period of time.”
More than 2.8 billion shares were voted, representing about 67% of the shares entitled to be voted, according to a federal filing.
Cathy Bussewitz, The Associated Press
The post Challengers unseat third Exxon board member in climate fight appeared first on 660 NEWS.
If you are thinking of using a cell phone spy app, then you have made the right choice. https://www.mycellspy.com/tutorials/best-cell-phone-spy-apps-online-free-trials/
It’s nearly impossible to find well-informed people for this topic, but you sound like you know what you’re talking about! Thanks
When I originally commented I seem to have clicked the -Notify me when new comments are added- checkbox and now each time a comment is added I recieve four emails with the same comment. Is there a means you can remove me from that service? Thanks!
Howdy! Someone in my Myspace group shared this site with us so I came to give it a look. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Wonderful blog and wonderful design and style.
Greetings from Colorado! I’m bored to tears at work so I decided to check out your website on my iphone during lunch break. I really like the info you present here and can’t wait to take a look when I get home. I’m shocked at how quick your blog loaded on my cell phone .. I’m not even using WIFI, just 3G .. Anyhow, good site!
Francisk Skorina Gomel State University
This post is invaluable. Where can I find out more?
This is a topic that’s close to my heart… Take care! Where are your contact details though?
I couldn’t resist commenting. Very well written!
hey there and thank you for your information I’ve definitely picked up anything new from right here. I did however expertise a few technical issues using this web site, since I experienced to reload the web site many times previous to I could get it to load properly. I had been wondering if your web hosting is OK? Not that I am complaining, but sluggish loading instances times will often affect your placement in google and can damage your high quality score if advertising and marketing with Adwords. Anyway I’m adding this RSS to my e-mail and can look out for a lot more of your respective interesting content. Make sure you update this again soon.
Appreciating the commitment you put into your website and in depth information you provide. It’s awesome to come across a blog every once in a while that isn’t the same out of date rehashed material. Wonderful read! I’ve saved your site and I’m including your RSS feeds to my Google account.
I think the admin of this website is really working hard in favor of his web site, since here every information is quality based stuff.
I don’t even understand how I ended up here, however I assumed this post used to be good. I don’t recognize who you’re however definitely you are going to a famous blogger in case you are not already. Cheers!
It’s not my first time to visit this website, i am visiting this web site dailly and get pleasant information from here everyday.
Hmm it appears like your website ate my first comment (it was extremely long) so I guess I’ll just sum it up what I submitted and say, I’m thoroughly enjoying your blog. I as well am an aspiring blog blogger but I’m still new to the whole thing. Do you have any points for rookie blog writers? I’d genuinely appreciate it.
magnificent post, very informative. I’m wondering why the other experts of this sector do not realize this. You should continue your writing. I am sure, you have a huge readers’ base already!
Unleash your inner warrior in this RPG adventure Lucky Cola