Exxon Says Glass Lewis Has Conflict of Interest on Proxy (1)

Exxon Mobil Corp. said major proxy adviser Glass Lewis & Co. should recuse itself from making recommendations on an upcoming shareholder vote for failing to disclose relationships with climate-minded investors.

The adviser is a member of the Interfaith Center on Corporate Responsibility, which opposes Exxon’s lawsuit against two ESG investors, the Spring, Texas-based company said in a filing Wednesday. Exxon says the group is responsible for 40% of all shareholder proposals received over the past decade.

Earlier this week, Glass Lewis urged shareholders to reject Joseph Hooley’s reelection as lead director, citing the company’s “unusual and aggressive tactics” against ...