BlackRock says voted to split CEO, chairman roles at Exxon Mobil
HOUSTON (Reuters) - Top fund manager BlackRock Inc on Wednesday said it cast an advisory vote in favor of an independent chairman and against the reelection of two directors at Exxon Mobil Corp over the company's approach to climate risks. Exxon shareholders on Wednesday rejected all four shareholder resolutions with none getting more than 38% of the votes cast. The independent chairman proposal fell with 32.7% in favor of an appointment when the next chief executive is named.
HOUSTON (Reuters) - Top fund manager BlackRock Inc
Exxon shareholders on Wednesday rejected all four shareholder resolutions with none getting more than 38% of the votes cast. The independent chairman proposal fell with 32.7% in favor of an appointment when the next chief executive is named.
BlackRock, which this year joined the Climate 100+ investor group seeking greenhouse gas emissions curbs, said the current board lacked independent leadership and showed no "sense of urgency" with regard to climate-related risks.
"Exxon may benefit from the additional of an individual with more direct industry experience on the board," the investor said. BlackRock is the second largest institutional owner of Exxon with about 6.7% of Exxon shares outstanding.
It voted against Exxon directors Angela Braly, the former CEO of health insurer WellPoint, and Kenneth Frasier, the CEO of pharmaceutical maker Merck & Co, over the Exxon's "insufficient progress" on climate related financial disclosures and related action, BlackRock said. Both directors were reelected.
"We continue to see a gap in the company's disclosure and action with regard to several components of its climate risk management," BlackRock wrote of its votes.
(Reporting by Gary McWilliams; Editing by Marguerita Choy)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
HONG KONG (Reuters) - Hong Kong authorities threw a security blanket across the city early on Wednesday, the 23rd anniversary of the former British colony's handover to Chinese rule, hours after new national security legislation took effect in the financial hub. The contentious law will punish crimes of secession, subversion, terrorism and collusion with foreign forces with up to life in prison, heralding a more authoritarian era for China's freest city.
By Susan Cornwell (Reuters) - Former fighter pilot Amy McGrath said on Tuesday she was ready to take on Senate Republican Majority Leader Mitch McConnell after edging out a Black progressive to clinch the Democratic nomination for the seat.
By Rodrigo Campos NEW YORK (Reuters) - A global stocks index rose on Tuesday and marked its largest quarterly gain since 2009 as investors continued to look for signs of an economic recovery while shrugging off data showing a rising number of COVID-19 cases. The possible return of Libyan oil production, which has been at a trickle since the start of the year, weighed on crude prices. World shares rose 18.7% this quarter, the biggest quarterly gain in 11 years, but are still down more than 7% so far this year due to a slump of 34% between Feb.