05:49 AM EDT, 04/18/2024 (MT Newswires) -- TotalEnergies (TTE) shareholders are urging the oil and gas company to separate the roles of CEO and chairman, according to a statement from Swiss pension fund investor group Ethos Foundation.

Ethos Foundation said Thursday it filed, together with a coalition of 19 international investors representing more than 1 billion euros ($1.07 billion) of equity interest in the company, a shareholder resolution calling for the separation of the two functions to be put forward at the company's annual general meeting on May 24.

"The concentration of power in the hands of one single person poses an inherent risk of conflicts of interest," Ethos said.

The company's board will decide on April 25 whether to add the resolution to the company's AGM agenda, Reuters reported, citing a company spokesperson.

TotalEnergies did not immediately respond to MT Newswires' request for comment.