Finance

Activist firm Engine No. 1 claims third Exxon board seat

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A third Exxon board seat has been claimed by Engine No. 1, the activist firm that’s been targeting the oil giant over its dependence on fossil fuels, the company said in a statement Wednesday.

The announcement, which is still based on preliminary results, follows the upstart activist firm gaining two board seats at Exxon’s annual shareholder meeting on May 26. The vote over the third seat was too close to call at the meeting’s conclusion.

“We look forward to working with all of our directors to build on the progress we’ve made to grow long-term shareholder value and succeed in a lower-carbon future,” Exxon Chairman and CEO Darren Woods said in a statement Wednesday.

Engine No. 1, which has…



Source cnbc.com

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