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Exxon Chairman's Re-Election Opposed by LGIM Over Climate Response
- Energy giant lacks ambition on tackling climate change: LGIM
- U.K. asset manager also backs calls for independent chair
Darren Woods
Photographer: Justin Chin/BloombergThis article is for subscribers only.
Legal & General Investment Management, the U.K.’s largest asset manager, will oppose the re-election of Exxon Mobil Corp.’s chairman over what it called a lack of ambition on tackling climate change.
LGIM said Wednesday that it plans to vote against Darren Woods, who has been chairman since 2017 and who is also the company’s chief executive officer, at the energy group’s annual general meeting on May 27. The investment firm owns about 0.5% of Exxon, a stake valued at almost $1 billion based on Tuesday’s closing price in New York.