Board Refreshment at ExxonMobil initiated by activist investors! Shareholders are pushing ExxonMobil to go green. Last week hedge fund Engine No 1 formally nominated four new directors to Exxon’s board. This week activist investor Jeff Ubben is being considered for a board seat.
“A board that has underperformed this dramatically and defied shareholder sentiment for this long has not earned the right to choose its own new members or pack itself in the face of calls for change,” Engine No 1 said after Tuesday’s results.