Challengers unseat third Exxon board member in climate fight

0
16

NEW YORK (AP) — Exxon Mobil shareholders have unseated third board member in their bid to force the oil giant to deal more aggressively with climate change. Texas-based Exxon says three candidates nominated by a dissident group of shareholders had been elected to its board of directors. Preliminary tallies last week had two of the challengers winning seats. Nine of the 12-member board supported by Exxon were re-elected. The ouster is another blow as fossil fuel companies face growing pressure to re-focus their businesses. The hedge fund Engine No. 1 had asserted Exxon’s board was ill-equipped to handle the changing energy sector. The alternative slate of directors had the support of some of the largest money managers in the world.

The post Challengers unseat third Exxon board member in climate fight appeared first on WEEK.

LEAVE A REPLY

Please enter your comment!
Please enter your name here