financetom
Business
financetom
/
Business
/
Exxon says proxy advisor Glass Lewis should recuse itself from making recommendations
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Exxon says proxy advisor Glass Lewis should recuse itself from making recommendations
May 15, 2024 12:59 PM

(Reuters) - U.S. oil giant Exxon said on Wednesday proxy advisor Glass Lewis should recuse itself from making recommendations on its upcoming shareholder meeting due to "conflicts of interest."

The company said Glass Lewis is a member of the Interfaith Center on Corporate Responsibility (ICCR), which "has led the media opposition to ExxonMobil's ( XOM ) decision to seek declaratory relief in court" related to a lawsuit.

The lawsuit filed earlier this year is related to Exxon seeking to block a vote on a climate proposal submitted by two small activist investors, including Arjuna Capital, which is a member of the ICCR.

Exxon, which is frequently the focus of critical shareholder resolutions, had sidestepped the usual regulatory process to fend off similar measures.

Earlier this week, Glass Lewis recommended investors vote against Exxon's lead independent director, Joseph Hooley, citing the company's insistence in pursuing a lawsuit against activist investors who had withdrawn their resolutions against the company.

Both ICCR and Glass Lewis did not immediately respond to Reuters requests for comment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Metaplanet Achieves 95.6% BTC Yield in Q1; Kicks Off Q2 with 160 BTC Acquisition
Metaplanet Achieves 95.6% BTC Yield in Q1; Kicks Off Q2 with 160 BTC Acquisition
Apr 2, 2025
Japanese hotel company Metaplanet ( MTPLF ) has acquired an additional 160 BTC at an average purchase price of 12.5 million yen, approximately ($83,600 per BTC), with a total investment of 1.998 billion yen ($13.4 million). This brings Metaplanet’s total bitcoin holdings to 4,206 BTC, acquired at an average purchase price of 12.9 million yen, approximately ($86,500 per BTC), amounting...
BRIEF-Connectm Receives $1.60 Per Share Buyout Offer From Its Three Largest Institutional Investors
BRIEF-Connectm Receives $1.60 Per Share Buyout Offer From Its Three Largest Institutional Investors
Apr 2, 2025
April 2 (Reuters) - ConnectM Technology Solutions Inc ( CNTM ) : * CONNECTM RECEIVES $1.60 PER SHARE BUYOUT OFFER FROM ITS THREE LARGEST INSTITUTIONAL INVESTORS * CONNECTM TECHNOLOGY SOLUTIONS INC ( CNTM ) - OFFER IMPLIES TOTAL EQUITY VALUATION OF $46.5 MILLION Source text: Further company coverage: ;)) ...
Circle Internet Files for Initial Public Offering
Circle Internet Files for Initial Public Offering
Apr 2, 2025
08:13 AM EDT, 04/02/2025 (MT Newswires) -- Circle Internet (CRCL), the company behind the USDC stablecoin, filed regulatory papers late Tuesday for an initial public offering. The company applied to trade its shares on the New York Stock Exchange under the ticker symbol CRCL. No date or price range for the IPO has yet been determined. In the filing, the...
BlackBerry forecasts lower annual revenue due to weak demand for cybersecurity services
BlackBerry forecasts lower annual revenue due to weak demand for cybersecurity services
Apr 2, 2025
(Reuters) - Canada's BlackBerry forecast a revenue decline in fiscal 2026 on Wednesday, as it anticipated weak spending on its cybersecurity products. U.S.-listed shares of the Waterloo, Ontario-based company fell 4% in premarket trading. BlackBerry, once a dominant force in the smartphone market, has transitioned into selling software for devices and autonomous vehicles. But enterprises are now reining their technology...
Copyright 2023-2026 - www.financetom.com All Rights Reserved