May 15 (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investors who had withdrawn their resolutions against the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.