- Reuters pic
HOUSTON: An unprecedented fight over who should sit on the board of Exxon Mobil Corp is turning into a referendum on chief executive officer (CEO) Darren Woods as a decades-long struggle by climate campaigners comes to a head.
Activist investor Engine No 1 LLC wants to replace one-third of Exxon’s board in an effort to force the Western world’s largest oil explorer to embrace a transition away from fossil fuels and end a decade of what it calls “value destruction”. Shareholders are set to gather – virtually – for their annual meeting on May 26.
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