Posted on 05/28/2021 4:14:13 PM PDT by rktman
Things are changing in America and you either go with the flow or get left behind.
Exxon Mobile Corporation had a board election yesterday and at least two “rebels” were elected. These rebels aren’t members of the downtrodden masses. They were put forward by a hedge fund, Engine 1, in an effort to force Exxon to address climate change.
By the end of the day, Exxon had been shaken to its foundation — a foundation laid by John D. Rockefeller in the 19th century. Exxon CEO Darren Woods’ days may be numbered. Woods made the proxy fight the most expensive in company history and ended up losing big. Some analysts don’t see how Woods can survive the humiliation.
“We welcome all of our new directors and look forward to working with them constructively,” Mr. Woods said in a statement.
What else could he say?
(Excerpt) Read more at pjmedia.com ...
Two of Eleven (Almost three). So?
LOL! That’s nearly a third. Butt, foot in door scenario.
Get the new board to sell off those nasty refineries. Or better yet abandon them dirty nasty things. I’ll jump on it.
“Engine No. 1 sought four seats on Exxon’s board and argued the Texas oil giant should commit to carbon neutrality, effectively bringing its emissions to zero—both from the company and its products—by 2050”
Exxon-Mobil is between a rock and a hard place. Given the heavy regulations and harrassment they can’t do that well on oil and gas and going green will probably not help them either. They will try some in between strategy perhaps and still suck.
IOt’s not just the hedge funds that do this. It’s Fidelity, adn TIAA-CREF. nd the other large investor houses. They do the same thing. They did it to GE, they are going to do it to Exxon.
What did they Do to GE exactly?
You have to give credit to the left. Once they decide on what BIG LIE they are going to push they relentlessly push it. They never let any setback to their nonsense stop them. Cons Never Give up the Con.
Thanks for the news. “Climate change” is nonsense, so I will sell my small holding of Exxon stock.
Interesting, but I read an article yesterday that said this was all bark, no bite against the mighty XOM.
In other words, fascism is good for corporate.
This is an example of the corrosive impact of ESG in finance, they demand woke for investment.
I think Woods should start Liquidating the Company and Shutting it down Permanently, Burn it all Down
I remember doing a counterproductive at an ExxonMobil Board meeting in Dallas.
Guess they made it inside the building.
They might get a lot of government handouts now. I say HOLD.
It’s all about the level of BTUs. Nothing has come along to replace fossil fuels yet.
Counterprotest.
Didn’t Exxon learn anything from the Marxists? Just pack the board.
But please tell me why anyone is worried about environmental things any more - surely,, with all the UFOs flying around lately capping decades of crop circles, we are on the verge of imminent contact with UFO beings possessing incredibly advanced technology to impart to Earthlings so all our environmental and energy worries are for naught !
I have Exxon stock too. I’m waiting but will watch. I made a mint off them already. But a few more dollars would be ok too. Long term not great for them.
It will be the new Wyatt Oil: "Here. Take it. It's all yours."
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