Activist hedge fund wins 3 Exxon board seats
ExxonMobil Corp. late Wednesday announced its new board makeup, which will include three members appointed by activist hedge fund Engine No. 1. Exxon said that based on preliminary results from its shareholder meeting last week, nine people nominated by Exxon will be elected, and three Engine No. 1 nominees will be elected. "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," Chief Executive Darren Woods said in a statement. Re-elected ExxonMobil directors are expected to be Woods, Michael Angelakis, Susan Avery, Angela Braly, Ursula Burns, Kenneth Frazier, Joseph Hooley, Douglas Oberhelman and Jeffrey Ubben. Engine No. 1 nominees expected to be elected are Gregory Goff, Kaisa Hietala and Alexander Karsner. Shares of Exxon were 0.1% lower in the extended session Wednesday, after ending the regular trading day up 0.8%.
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