Exxon Vows to Be ‘Forceful Advocate’ for Shareholder Democracy
- Opponents say lawsuit is attempt to silence dissenting voices
- Investors vote with board on all proposals at virtual meeting
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Exxon Mobil Corp. pledged to be a “forceful advocate” for shareholder rights as it confronts activist investors that the oil giant accuses of abusing the US proxy voting system.
Chief Executive Officer Darren Woods vowed to “safeguard” annual meetings from activists that launch “serial attacks” on Exxon and the oil industry. Exxon is pursuing legal action against Arjuna Capital even though the investor dropped a proposal that would have urged the driller to curb greenhouse gas emissions.