Engine No. 1 Wants Exxon to Make Different Capital Decisions
- Activist pushed for more emphasis on sustainability, returns
- Engine No. 1’s campaign remade Exxon’s board earlier this year
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Engine No. 1 LLC, the activist shareholder that won three seats on the Exxon Mobil Corp. board earlier this year, hopes the oil giant will change its business model, said Chief Executive Officer Jennifer Grancio.
“What our hope is that Exxon is looking at not just the next year or two, but how they’re changing the footprint of how they make money, how they’re successful in years five, 10 and 15,” Grancio said during a Bloomberg Television interview at the Milken Institute Global Conference in California on Wednesday. “We hope to see some different capital-allocation decisions.”