Market Chatter: Exxon Mobil Weighs Adding Climate-Driven Activist Investor Ubben to Board
03:58 PM EST, 02/05/2021 (MT Newswires) -- Exxon Mobil (XOM) is weighing adding activist investor Jeff Ubben to its board amid escalating criticism of the US oil and natural gas giant's approach to climate change, Bloomberg reported late Thursday, citing unidentified sources.
Ubben's ongoing discussions with the board are constructive and a decision on whether or not to appoint him might be made in the coming weeks, the business news service reported, citing those sources, who added that his candidacy has already won the support of other shareholders, including DE Shaw.
Ubben has become known for his social and environmental investing in recent years, according to the report. His new firm, Inclusive Capital Partners, is also discussing taking a meaningful stake in Exxon Mobil if he were appointed to the board, Bloomberg reported.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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