The outcome is a coup for Engine No. 1, a new and previously unproven player in the realm of activist investing.
NEW YORK: Exxon Mobil Corp activist investor Engine No. 1 expanded its presence on the oil giant’s board to three seats, according to preliminary vote tallies, cementing a victory that has reverberated across the energy industry.
The initial counts show the newest nominee from Engine No. 1’s slate elected to Exxon’s 12-member board is private-equity investor Alexander Karsner, Exxon said Wednesday in a statement. The results, which still need to be certified, confirmed an earlier report by Bloomberg News.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
