1. CalPERS to Back Activist's Four Director Nominees in Exxon Board Fight

    CalPERS to Back Activist's Four Director Nominees in Exxon Board Fight

    (Reuters) -The California Public Employees' Retirement System (CalPERS) said on Monday it plans to vote for Engine No. 1's four director nominees to Exxon Mobil Corp's board, throwing additional support to the activist hedge fund in its proxy fight with the company...

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    1. CalPERS is supporting additional board refreshment due to the long-term financial underperformance at ExxonMobil and the need for a greater depth of skill sets and experience on the board to address the significant challenges the company faces.
    2. We will continue to engage with our shareholders, including CalPERS, to discuss our clear strategy for succeeding in a lower-carbon future.
    3. ExxonMobil is focused on meeting energy demand while developing technologies and commercializing opportunities to tackle emissions and enhance shareholder value in an energy transition.
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