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Board Candidates

Addressing the fundamental issues at ExxonMobil (NYSE: XOM) will not be easy and will require directors with relevant industry experience and skills.

We’ve nominated four highly qualified, independent individuals who will bring to the ExxonMobil Board much-needed experience in value-creating, transformational change in the energy sector.

Heard on the Street

Reuter: Breaking Views
The slate of four put up by activist Engine No. 1 could help. Gregory Goff helped the oil refiner Andeavor generate over 1,000% returns for investors during his reign. And Kaisa Hietala built and ran the renewable business at Finnish refiner Neste, which has helped push that firm’s share price up 10-fold over a decade. March 22, 2021
Financial Times
The fund’s selection of people with significant energy experience — including Gregory Goff, a former chief executive of refiner Andeavor — could prove significant. ‘The investment community is on board,’ said Sam Margolin, managing director of Wolfe Research. ‘The [Engine No. 1] board nominees have a really good chance of getting elected … they all have very strong repute, they have track records in the industry, and some of them cross over into low-carbon fields.’ March 3, 2021
Pensions & Investments
‘The goal’, said Aeisha Mastagni, portfolio manager for CalSTRS’ sustainable investment and stewardship strategies, ‘is to get new voices inside the boardroom. We are making sure we have the right alignment of interests in terms of the executive team, as opposed to the current board, which doesn’t have experience in the energy industry or with energy companies in transition’, she said. ‘This is providing a solution that we hope will drive performance.’ December 14, 2020