Upstart hedge fund Engine No. 1 has captured three board seats at ExxonMobil, in an upset of historic proportions. Shareholders elected nine company nominees but Engine No. 1 has captured three, the Irving, TX-based supermajor announced last week. The annual meeting held late last month had already jolted the investor complex, with Engine No. 1,…
Tag / Engine No. 1
SubscribeEngine No. 1
Articles from Engine No. 1
ExxonMobil Faces Historic Defeat as Engine No. 1 Captures At Least Two Board Seats
A hedge fund launched only last year proved to be the little Engine No. 1 that could on Wednesday, winning at least two seats on the ExxonMobil board. The upstart hedge fund, which controls only 0.02% of the shares, last year began a quest to force change at the Irving, TX-based supermajor. In January, it…
May 26, 2021
ExxonMobil Activist Investor Nominates Four Independent Board Members
An activist investment firm prodding ExxonMobil to boost its alternative energy holdings and improve management oversight on Wednesday formally nominated four people to the board, in time for consideration ahead of this year’s annual meeting. San Francisco-based Engine No. 1 LLC last month said it wanted to squeeze more value from ExxonMobil through “active ownership”…
January 27, 2021
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
