exxonMobil heads for investor showdown

摘要

ExxonMobil is facing what is shaping up to be its biggest shareholder fght in years, amid mounting criticism that it is ill-prepared to navigate the energy transition. The annual meeting on 26 May follows a fve-month campaign by an activist investor to shake up the board, and it will be closely watched by the rest of the industry. Although it is not the frst time ExxonMobil has come under pressure from investors over its climate stance, the latest unrest follows a tumultuous year in which the major was forced to slash spending and scale back output plans to protect an annual dividend worth $15bn, after Covid-19 decimated demand.