The Church Commissioners for England attended the Annual General Meeting of ExxonMobil in Dallas.
Their head of responsible investment, Canon Edward Mason, presented two proposals to the shareholders – one asking for an independent chairman separate to the CEO, the other for a board matrix where the roles on the board are tailored according to what the company needs and the race and gender of the board is disclosed.
Overall, 40.8 per cent of the shareholders supported the separation of the positions of Chair and CEO and 29.8 per cent backed calls for a board matrix.
Edward Mason said: “This has been a very difficult AGM for Exxon and a warning shot to management.
“The result of Exxon refusing to put our shareholder proposal to the vote is that investors have simply expressed their frustration at Exxon’s governance on other ballot items.
“Today’s increased support for the separation of chair and chief executive, in the face of board opposition, is a measure of investors’ profound dissatisfaction.
“We now expect the company immediately to institute the intensive, meaningful engagement on climate strategy with Climate Action 100+ investors that it has delayed for too long.”
Stay up to date with the latest news stories from a Christian perspective. Sign up to our daily newsletter and receive more stories like this straight to your inbox every morning.
… Read More
—
Click Read More to read the rest of the story from our content source/partners – Premier Christianity News.