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Engine No. 1 Lays Its Cards on the Table for Next Proxy Targets

Activist investor that forced a board shakeup at Exxon Mobil plans to be quite transparent in how its next proxy votes play out.

Engine No. 1 seemingly came out of nowhere when it won a campaign to replace three seats on the board of Exxon Mobil Corp. last May. And from now on, the activist fund will be advertising its every move.

San Francisco-based Engine No. 1 recently introduced an online dashboard that will disclose how it votes on every proposal at each company in its Transform 500 ETF (ticker VOTE). While some funds wait months to disclose how they vote to investors, Engine No. 1 will release its decisions in “as real time as technologically possible,” said Michael O’Leary, managing director at Engine No. 1.