Activists Use Shareholder Rights To Undermine Shareholders' Interests

The value of legal claritygettyLed by CalPERS, the pension fund for California public workers, activist investors may oppose re-electing ExxonMobil ExxonMobil chief executive Darren Woods to the company board. His sin: seeking greater clarification regarding proposals that shareholders have previously rejected multiple times.The issue arises because Environmental, Social, and Governance (ESG) activist investors Arjuna Capital and Follow This tried to resubmit a proposal on Exxon’s 2024 proxy statement. The ...