Exxon Mobil Corporation (XOM)
How The SEC Turned Exxon's Shareholder Meeting Into A Climate Fight
The upcoming Exxon Mobil annual shareholder meeting on May 29 is drawing significant attention due to escalating tensions with several influential pension funds.
Norway wealth fund to oppose Exxon director over shareholder lawsuit
Norway's $1.6 trillion sovereign wealth fund said on Friday it will vote against the reappointment of U.S. oil giant Exxon's lead independent director, Joseph Hooley, due to the company's lawsuit targeting climate activist investors.
ExxonMobil Proxy Fight Seems Motivated By Too Much Success
In the corporate world, efforts to oust board members by investors are a regular occurrence, to normally be expected when a company is experiencing hard financial times. But in a bit of irony, ExxonMobil ExxonMobil CEO Darren Woods and the company's lead independent director, Joseph Hooley, find themselves under attack from activist investors at a time when the company has achieved record profits, record stock performance, and record market capitalization after the just-completed $60 billion acquisition of Pioneer Natural Resources Pioneer Natural Resources.
Guyana says it could reallocate gas areas if Exxon does not move project forward
An Exxon Mobil-led oil consortium will need to decide by October whether it will go ahead and develop a large natural gas find off the coast of Guyana, the country's vice president said on Thursday.
CalSTRS votes against Exxon's Woods and Hooley
The California State Teachers' Retirement System has voted against the re-election of Exxon Chairman Darren Woods and of its Lead Director Joseph Hooley, an online record shows.
Algeria's Sonatrach and Exxon Mobil sign hydrocarbons development deal
Sonatrach has signed an agreement with U.S. oil major Exxon Mobil to allow the study of opportunities to develop hydrocarbon resources in Algeria's Ahnet and Gourara basins, the state-owned Algerian oil and gas group said on Thursday.
1 Overlooked Sector That's Helping Fuel the S&P 500 to Record Highs
Most energy stocks are up sharply this year, fueled partly by higher oil prices. Oil has helped producers like ExxonMobil and Diamondback Energy generate more cash to return to their shareholders.
Judge rules Exxon can sue activist shareholder over climate proposal
A federal judge in Texas said Exxon Mobil's lawsuit to bar a climate change proposal from activist investor Arjuna Capital can proceed.
Exxon case against activist shareholder can proceed, judge rules
A U.S. judge on Wednesday allowed a lawsuit Exxon Mobil filed against two activist groups seeking to bar their climate resolution to go ahead against one of the two groups.
ExxonMobil (XOM), Petronas Strike Major Find Offshore Suriname
ExxonMobil (XOM) and Petronas celebrate another hydrocarbon discovery in Block 52 offshore Suriname, solidifying their foothold in the region's promising energy sector.
Calpers to Vote Against Exxon Board Members, Citing Lawsuit Against Arjuna and Follow This
By Josh Beckerman The California Public Employees' Retirement System said it would vote against all of Exxon Mobil's board members, saying the company's lawsuit against two sustainable investment firms could have severe repercussions. Exxon Mobil sued Arjuna Capital and Follow This in January, seeking to block a shareholder proposal that called for Exxon Mobil to accelerate the pace of greenhouse-gas-emission reductions, including from the company itself and its customers. The company said the firms were seeking "to force Exxon Mobil to change the nature of its ordinary business or to go out of business entirely." Arjuna and Follow This withdrew the proposal. Calpers said Monday that "decades of shareholder rights are under threat" and that, if the suit succeeds, it "could diminish the role--and the rights--of every investor in improving a company's bottom line." Exxon Mobil said it has "engaged with CalPERS on this matter and do not understand how they can make such a poor fiduciary decision to vote against a board that has overseen the creation of industry-leading shareholder value." "We welcome working with CalPERS and others to address issues in the shareholder proposal process," the company added. Write to Josh Beckerman at [email protected] (END) Dow Jones Newswires 05-20-24 1509ET
ExxonMobil faces opposition from CalPERS after 'devastating' anti-ESG activist suit
CalPers is withholding its support for Exxon CEO Darren Woods after the company sued environmentally-focused activist investors.
