ExxonMobil and Chevron suffer shareholder rebellions over climate
by Jillian Ambrose from Environment | The Guardian on (#5J9P7)
Exxon loses two board seats to activist hedge fund
US oil giants ExxonMobil and Chevron have suffered shareholder rebellions from climate activists and disgruntled institutional investors over their failure to set a strategy for a low-carbon future.
Exxon failed to defend its board against a coup launched by dissident hedge fund activists at Engine No. 1 which successfully replaced two Exxon board members with its own candidates to help drive the oil company towards a greener strategy.
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