Proxy dispute: An Exxon Mobil refinery in Baytown, Texas. Engine No. 1 names the four directors it wants shareholders to remove at the oil company’s upcoming AGM. — Reuters
TEXAS: The activist investor leading a proxy fight to reshape Exxon Mobil Corp yesterday named the four directors it wants shareholders to remove at the oil company’s upcoming annual general meeting.
The investor, Engine N.o 1, is a small fund that last year took on the top US oil producer for what it said was poor financial returns and a lagging approach to cleaner fuels. Exxon since has vowed to cut its debt, invest more in low-carbon initiatives, and improve returns.
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