Shareholders Elect ExxonMobil Directors 

Shareholders have elected eight of ExxonMobil nominees to the board of directors and two of Engine No. 1 nominees. But, vote results for five nominees were too close to call.

The American oil giant however, pointed out that preliminary vote estimates were by its proxy solicitor,

“We welcome all of our new directors and look forward to working with them constructively and collectively on behalf of all shareholders,” said Darren Woods, chairman and chief executive officer.

“We’ve been actively engaging with shareholders and received positive feedback and support, particularly for our announcements relating to low-carbon solutions and progress in efforts to reduce costs and improve earnings. We heard from shareholders today about their desire to further these efforts, and we are well positioned to respond”, the company said.

ExxonMobil has developed a portfolio of investment opportunities in high-return, low cost-of-supply projects. The company has also significantly reduced emissions and set clear plans for further reductions to 2025, consistent with the goals of the Paris Agreement.

Re-elected ExxonMobil directors were Woods, Michael Angelakis, Susan Avery, Angela Braly, Ursula Burns, Kenneth Frazier, Joseph Hooley and Jeffrey Ubben. Elected from Engine No. 1’s nominees were Gregory Goff and Kaisa Hietala.

The outcome was not yet determined for ExxonMobil director candidates Steven Kandarian, Douglas Oberhelman, Samuel Palmisano and Wan Zulkiflee, and for Engine No. 1 candidate Alexander Karsner. A fourth Engine No. 1 candidate, Anders Runevad, was not elected.

The board will reconsider two shareholder proposals that received majority shareholder approval, which include Item No. 9, calling for a report on lobbying, and Item No. 10, requesting a report on climate lobbying.

The preliminary vote count is subject to certification by the Independent Inspector of Elections. Additional information regarding the results of the 2021 Annual Meeting of Shareholders will be available in a current report on Form 8-K filed with the Securities and Exchange Commission and on ExxonMobil’s investor website

ExxonMobil is however, one of the largest publicly traded international energy companies. It uses technology and innovation to help meet the world’s growing energy needs.

ExxonMobil holds an industry-leading inventory of resources, said to be one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world.

 

Leave a Comment