Deals
Exxon Faces Proxy Fight After Activist Nominates Directors
- Engine No. 1 says oil giant must improve on returns, climate
- Exxon says it will evaluate proposals ahead of annual meeting
Photographer: Saul Loeb/AFP/Getty Images
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Exxon Mobil Corp. is heading for a proxy showdown after activist investor Engine No. 1 formally nominated four directors to the board of the energy giant, which is facing growing calls to change its strategy.
Engine No. 1, which confirmed it nominated the slate of directors Wednesday morning, has the backing of the California State Teachers’ Retirement System.