Engine vs. ExxonMobile: profit activists with green coats

The success of a hedge fund against ExxonMobile is a milestone for climate protection. At the same time, however, the case raises an important question: How sustainable do activist investors really thank? Chris James and Charles Penner made corporate governance history on Wednesday: At a dramatic shareholder meeting, they prevailed over ExxonMobile management. Shareholders elected two candidates nominated by their Engine No. 1 fund to the oil company’s 12-member board. …

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