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Brits' Cold Shoulder to Exxon | Oil Watchdog

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Brits' Cold Shoulder to Exxon

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Mon, May 19, 2008 at 6:02 pm

    Brits' Cold Shoulder to Exxon

    8-19-08 by dugan

    The shareholder revolt against Exxon is going global. Four big institutional investors in Britain have joined a shareholder resolution demanding that Exxon have an independent chairman of the board, and the new support should bring the chance of passage to about 50-50. Currently, the chairman title is just another perk for CEO Rex Tillerson, whose attitude is from aloof to hostile about renewable energy and climate change. Exxon faces numerous shareholder rebellions at its annual meeting May 28 in Dallas. Another significant one by pension funds and other large investors seeks to fire board member Michael Boskin for ignoring the investors’ multiple requests for a meeting on climate issues.

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