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    ExxonMobil sees adjusted board election results

Summary

Dissident shareholder wins one more seat at the table

by: Dale Lunan

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Complimentary, NGW News Alert, Top Stories, Americas, Corporate, Corporate governance, News By Country, United States

ExxonMobil sees adjusted board election results

After reviewing votes cast at its annual general meeting May 26, ExxonMobil said June 2 its shareholders are expected to have elected 12 directors – nine nominated by the company and three put forward by activist shareholder Engine No. 1.

“We look forward to working with all of our directors to build on the progress we’ve made to grow long-term shareholder value and succeed in a lower-carbon future,” CEO Darren Woods said. “We thank all shareholders for their engagement and participation, and their ongoing support for our company.”

The latest preliminary results are a slight change from the initial voting results, which saw eight ExxonMobil nominees elected and two of four Engine No. 1 nominees. Vote results for four other ExxonMobil nominees and one Engine No. 1 nominee were initially too close to call.

But after reviewing all votes, new preliminary results have added one more ExxonMobil nominee – Douglas Oberhelman – and one additional Engine No. 1 nominee – Alexander Karsner – to the list of elected directors.

The preliminary results, which were filed as a Form 8-K with the US Securities and Exchange Commission, remain subject to certification by the independent inspector of election, who has sole ability to validate the election.