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Forward of Wednesday’s much-anticipated Exxon Mobil (NYSE:XOM) CEO Darren Woods accused public pension fund CalPERS of neglecting the pursuits of its members by making an attempt to “punish” the corporate by organizing a shareholder revolt.
Activist traders ‘need monetary losses’ Woods wrote in a single submit that “companies,” and CalPERS ought to “go away politics to politicians” prose for Monetary Occasions.
in separate Monetary Occasions In an op-ed on Tuesday, CalPERS CEO Marcie Frost mentioned ExxonMobil (XOM) is partaking in “counter-speech efforts” by bypassing the SEC’s established procedures for dealing with shareholder proposals.
“CalPERS abides by the principles of shareholder democracy regardless of who’s in cost in Washington, D.C., why cannot ExxonMobil?” Frost requested.
In the meantime, Arjuna Capital, one of many firms suing ExxonMobil (XOM) over climate-related shareholder proposals, despatched a letter to the corporate pledging to not file comparable resolutions sooner or later in hopes of dropping the authorized motion.
A shareholder assembly is scheduled for tomorrow at 10:30 a.m. ET, with CalPERS and several other monetary officers from the Democratic-controlled state convening shareholders to vote in opposition to reappointments to the Exxon Mobil (XOM) board of administrators. A approach to combat again in opposition to a lawsuit.
Individually, former Pioneer Pure Assets CEO Scott Sheffield mentioned Tuesday that federal regulators have defamed him and accused him of making an attempt to collude with OPEC to prop up crude costs.
Sheffield mentioned the FTC mischaracterized the info and “took just about no steps to know the context, which means, and even material” of his communications throughout its six-month investigation into the deal.
The Federal Commerce Fee allowed Exxon Mobil (XOM) to finish its $60B acquisition of Pioneer after the corporate agreed to not add Sheffield to its board of administrators.
