Corporate Law News

Exxon Directors Face Shareholder Revolt Over Climate Change (1)

May 6, 2019, 3:58 PM

A group of Exxon Mobil Corp. shareholders launched a proxy fight against the oil giant’s directors after failing to get a climate proposal onto the ballot for the company’s annual meeting.

The New York State Common Retirement Fund, led by New York State Comptroller Thomas DiNapoli, and the Church of England said they would vote against all Exxon directors at the company’s May 29 annual meeting and urged other shareholders to consider doing the same.

Exxon’s “inadequate response to climate change constitutes a serious failure of corporate governance,” they said in a filing May 3.

The investors, which said they...

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