Tag: activist investors

Is a new day dawning at Exxon? Exxon shareholders elected two directors backed by an activist shareholder who called for changes in the oil giant’s response to climate change. It’s the first proxy campaign at a major US company where directors were the target and climate change was the issue. Anne Simpson of the California Public Employees Retirement System (CalPERS), which backed the rival directors, said the vote was a “day of reckoning” for Exxon and a warning to other oil companies. But what are the effects of the vote? Is it a turning point in the fight against climate change? We see a few lessons here, but while the vote will bring substantive changes, its impact may be more limit... Read More