Daily reviews

30.05.2019

Exxon Mobil annual meeting approves only two shareholder proposals

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At the annual general meeting Wednesday, Exxon Mobil Corp. approved two of nine shareholder proposals, both presented by and supported by the company’s board of directors.

Seven other proposals were rejected

Stocks impacted: Exxon Mobil Corp. (XOM)

Seven other proposals were rejected. Two institutional shareholders had urged a vote in favor of the role split after Exxon got the U.S. Securities and Exchange Commission to strike a climate change measure from its ballot. Shareholders defeated measures calling for a special board committee on climate change and for a report on the risks of climate change to Exxon’s U.S. Gulf Coast chemical plants. As a reminder, shareholders in recent years have pressed Exxon to define a path toward meeting the 2015 Paris climate agreement to limit global warming, but the company has not committed to any targets.

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