How Engine No. 1 Took on Exxon

Activist investor Engine No. 1 successfully secured three board seats at ExxonMobil with backing from major investors like BlackRock, Vanguard, and State Street. This victory highlighted Exxon's vulnerability to pressure due to its long-term fossil fuel strategy. Engine No. 1's CEO, Jennifer Grancio, emphasized the campaign's focus on equipping the board to manage the energy transition. Following this success, Engine No. 1 launched the Vote ETF to maintain pressure on public companies regarding ESG issues, demonstrating the growing influence of shareholder activism.

What role did big investors like BlackRock, Vanguard, and State Street play in the campaign against ExxonMobil?

What was the main goal of Engine No. 1 in their campaign against ExxonMobil?

How did Engine No. 1 manage to effect change at ExxonMobil?

What is the significance of the new ETF launched by Engine No. 1?

In what ways does shareholder activism influence corporate behavior according to the text?