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Exxon Activist Expands Boardroom Presence With Third Seat

  • CEO Darren Woods is in the bottom half of director vote totals
  • Investors also approve lobbying disclosures opposed by company
Bloomberg business news
Exxon Activist Engine No. 1 Gains a Third Board Seat
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Exxon Mobil Corp. activist investor Engine No. 1 expanded its presence on the oil giant’s board to three seats, according to preliminary vote tallies, cementing a victory that has reverberated across the energy industry.

The initial counts show the newest nominee from Engine No. 1’s slate elected to Exxon’s 12-member board is private-equity investor Alexander Karsner, Exxon said Wednesday in a statement. The results, which still need to be certified, confirmed an earlier report by Bloomberg News.