Exxon Mobil has faced significant opposition from activist shareholders and large public pension funds, notably Calpers, regarding its climate-related policies. Despite these efforts, Exxon shareholders overwhelmingly voted to re-elect Chairman Darren Woods and lead director Joseph Hooley on May 29, with 95% of shareholders supporting the board. The company has been criticized for its lawsuit against activist groups, including Arjuna Capital, which some investors argue could set a dangerous precedent. Calpers CEO Marcie Frost and other investors have raised concerns that such legal actions could harm long-term shareholder interests. Additionally, Exxon investors sided with management on all shareholder proposals during the annual meeting, further solidifying the company's stance against climate-focused resolutions.
Many large companies are contending with a spate of ESG campaigns. They are often ill-founded and impractical, promoted by gadflies with token shareholdings. ExxonMobil is now taking these activists to court https://t.co/pamKa2BQJX 👇
Exxon’s Darren Woods gets a Biden-era dividend - @TheRealLSL - https://t.co/ScstGrfyQX https://t.co/u60MSUjK1p
ExxonMobil rediscovers its swagger: The bad boy of big oil goes after its shareholders https://t.co/c6yl59aGsB
Shareholder climate activism is dead: @ExxonMobil's board pushed back hard against activist shareholders and won re-election by a wide margin! I've been pushing ExxonMobil to do this for 16 years. Lo and behold, shareholder choses profitability over climate idiocy. Winning.… https://t.co/WT9MFX34SZ
Oil Giant Fends Off Board Hijack Attempt Led By Major Public Pension Over Climate Activist Suit https://t.co/hHNPm5ypd2
Exxon investors voted against a proposal asking the energy giant to take a closer look at its plans for plastics production amid calls to reduce plastic waste. https://t.co/865tv2R2v5
ExxonMobil shareholders overwhelmingly endorse its hardball tactics in confronting climate activist investors https://t.co/hWKGOapaHt https://t.co/aUGk7CFIg2
Wednesday’s shareholder vote will “have a chilling effect” on future proposals and “reward Exxon’s bad behaviour.” https://t.co/q8WgFJBphB #energy #EnergyTransition #ClimateActionNow #renewables #NetZero #FossilFuels https://t.co/CDALCjzAuE
ExxonMobil seemed to have lost some of its braggadocio as the top dog among the world’s private-sector oil companies. But with profits resurgent on the back of two years of high prices, the bad boy of big oil is back—and going after its shareholders https://t.co/gZO4IodLds 👇
Top Exxon directors cruise to re-election despite activist opposition https://t.co/kxX1IN30fU https://t.co/b8xu33fLQ4
Exxon prevails over dissident shareholders in board battle $XOM https://t.co/oEz5P8C8ta
'Engagement' with oil companies doesn't work, part 8,976: Despite efforts from California's pension fund to oust Exxon board members, they cruise to reelection with 95% of the vote. Time To Divest https://t.co/tmqcuEBKQl
As the EV market cools, the oil industry scorches with $250 billion in high-stakes deals and mass consolidation. "The bigger the company is, the more money they make." https://t.co/3mylDvnc2l
Exxon stockholders side with oil giant in feud with Calpers and activist investors https://t.co/lWZKsqqvov by @alexiskweed
Exxon Mobil is under political attack by Great Granddaughter of Standard Oil Founder Rockefeller. Stock is under lots of pressure. Rockefellers in their day had 400 billion dollar in today’s dollars. The grandchildren squandered the wealth away. Now become climate activists.
This FT story features my quick take on today's Exxon shareholder meeting: Exxon prevails over dissident shareholders in board battle https://t.co/22DfdRTLMH via @ft https://t.co/lmzaB9GEKV
Today, a group of the world's largest LPs, including Calpers and Norway's Norges Bank Investment Management, failed to remove board members at ExxonMobil after a spat over shareholder rights. Instead, 95% of shareholders voted to keep the board in place. https://t.co/0su3Rj7ERM
Exxon Vows to Be ‘Forceful Advocate’ for Shareholder Democracy Opponents say lawsuit is attempt to silence dissenting voices Investors vote with board on all proposals at virtual meeting #oott https://t.co/zmkmgblSBW
.@USChamber Executive VP @QuaadmanT explains why the Chamber is getting involved in the dispute between @CalPERS and @ExxonMobil: "We have 90% of shareholders repeatedly rejecting this proposal. Yet, it is here again." https://t.co/Gj793UHT2t
Chevron shareholders vote to re-elect all 12 sitting directors to its board https://t.co/iKl0tmmUYp
Exxon Mobil shareholders re-elected Chairman Darren Woods and lead director Joseph Hooley. The two faced a 'vote no' campaign by activist shareholders over the oil company's lawsuit seeking to bar climate-focused investors from bringing future resolutions https://t.co/X1DXdy29dS https://t.co/w5ETSVwht1
Cooley provides extensive explanation of Exxon Mobil lawsuit against activist investor Arjuna Capital. Is proxy process being abused by shareholders compelling companies to take stands that are against their own economic interest? #esg https://t.co/YMS2sUgz9S
Exxon board, CEO survive ouster push by CalPERS, other large pension funds - PIOnline
Exxon Wins Board Vote by Wide Margin https://t.co/wt8ubIGzZe
Exxon investors voted in line with management recommendations on all shareholder proposals at its annual meeting https://t.co/GV39QajOsM
Exxon may set a dangerous precedent by suing shareholders over a climate-related proposal, Calpers CEO Marcie Frost said https://t.co/LToF0eMovo
Exxon Mobil shareholders re-elected Chairman Darren Woods and lead director Joseph Hooley, who were targeted by activist shareholders https://t.co/X1DXdy29dS https://t.co/nqu6BhgqQ1
An activist investor sued by Exxon Mobil over a now-withdrawn shareholder proposal concerning climate change has again called on the oil giant to withdraw its suit after broadening its previous promise not to resubmit the proposal in the future. https://t.co/ACZEuQSS7H https://t.co/0rMNVpsIxF
Exxon plays hardball against climate NGOs. Will investors care? https://t.co/KZ4qwb8vm6
ExxonMobil has accused Calpers, the largest public pension fund in the US, of neglecting its members’ interests after the fund attempted to organise a shareholder revolt https://t.co/ShnbvwkK0B https://t.co/PoXYNhQdm4
A group of European and American investors raised concerns about Exxon Mobil's lawsuit against activist groups. They said that long-term investors would suffer if companies turned to the courts to settle disagreements on shareholder proposals https://t.co/CdxrbJkYHQ https://t.co/P9iZAwQcEa