WHITF - Change Coming At Exxon Mobil
- Two new directors nominated by Engine No.1 will shake up the XOM board. The position of a third Engine No.1 nominee is unclear, while a 4th nomination was unsuccessful.
- 8 XOM directors renewed, while the position of 4 XOM director nominees is not clear. At best 2 of these directors will be reappointed.
- Change is happening elsewhere in the oil and gas industry with a landmark court decision concerning Shell.
- Sophistry from XOM CEO: “We should not be talking about eliminating fossil fuels. We should be talking about eliminating emissions”. There are 730 million tons of emissions from burning XOM products; XOM focuses on reducing 50 million tons of operational emissions.
- With XOM up substantially from recent lows, now might be a good time to reassess holding this stock.
For further details see:
Change Coming At Exxon Mobil