Exxon Mobil Corporation | Vote on ExxonMobil Directors Linked to Shareholder Rights Concerns

Status
AGM passed
AGM date
Previous AGM date
Resolution details
Company ticker
XOM
Submitted by
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
  • Governance
ESG sub-theme
  • Climate change
  • Shareholder rights
Type of vote
Director vote
Filer type
Management
Company sector
Energy
Company HQ country
United States
Supporting materials
  • sec.gov_Archives_edgar_data_34088_000121465924007057_g418240px14a6g.htm_.pdf Download
  • sec.gov_Archives_edgar_data_34088_000121465924007247_z419246px14a6g.htm_ICCR.pdf Download
Supporting statement
Glenview, IL—Wespath Benefits and Investments (Wespath) has filed a proxy exempt solicitation with the U.S. Securities and Exchange Commission (SEC) urging investors to vote against two director nominees at ExxonMobil's upcoming annual meeting of shareholders on May 29, 2024. Mercy Investment Services (Mercy) co-filed the solicitation with Wespath.

The solicitation encourages shareholders to vote against incumbent nominees Darren W. Woods (Executive Chair and CEO) and Joseph L. Hooley (Lead Independent Director and Nominating and Governance Committee Chair) due to their oversight of the company's hostile treatment of shareholders, including recent legal action taken by the company against its own investors. Exxon's recent hostility toward shareholders comes amid continued shareholder concerns regarding the company's management of climate-related risks.

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ICCR have filed an exempt solicitation: Today our organizations filed an exempt solicitation urging our fellow investors in ExxonMobil to vote NO on the election of two Directors, Executive Chair & CEO Darren W. Woods and Lead Independent Director & Nominating and Governance Committee Chair Joseph L. Hooley. You can find it on the SEC’s website (https://www.sec.gov/Archives/edgar/data/34088/000121465924007057/g418240px14a6g.htm) and attached.

ICCR believe the solicitation makes a compelling and thoughtful case highlighting our deep concern about the lawsuit ExxonMobil has filed against two investors who submitted a resolution regarding the company’s response to climate change. ICCR believe this action by the company represents a broader threat to shareholder rights amid continued concern regarding the company’s management of climate risk.

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