Exxon Activist Engine No. 1 Gains a Third Board Seat

Engine No. 1, a new activist investor, secured three board seats at Exxon despite holding a small stake. This marks a significant shift in Exxon's governance, potentially affecting CEO Darren Woods' leadership. The move highlights growing investor dissatisfaction with Exxon's climate and financial strategies, contrasting with European oil companies' commitments to net zero emissions. The climate movement's mainstream acceptance is evident as major investors like BlackRock support Engine No. 1's nominees.

What was Darren Woods' perspective on the voting for dissident directors at Exxon?

In what ways does the climate movement influence the strategies of major oil companies like Exxon?