Exxon Investors Urged to Vote to Split CEO, Chairman Roles (2)

Exxon Mobil Corp. investors should vote in favor of a proposal to separate the roles of chief executive officer and chairman, according to the two leading shareholder advisory firms.

Institutional Shareholder Services Inc. and Glass Lewis also urged shareholders to vote against the board’s recommendation on a handful of other proposals, including compiling lobbying reports on lobbying, political donations and board diversity.

A spokesman for Exxon referred to the company’s proxy statement, which says the board views the separation of the chairman and CEO roles as “unwarranted” and recommends against approving the measure.

The recommendations set the stage for a ...