Wednesday, May 21, 2008

Exxon proxy fight - the sequel

The big May meeting for Exxon Mobile shareholders is coming up and the familiar proxy fight is again on the table. The Rockefeller family chimed in to this discussion as well, the point being that the board should be broken up into an independent chair separated from the position of CEO, which is filled by Rex Tillerson. The main reason behind this initiative is the lack of the energy giant's spending on alternative energy, which is in reality non existent.
Hilary Kramer as the founder of Greentech Research takes the cooperate site, which makes one wonder if she understands the concept of green/alternative technology.

George Dallas, Director of Corporate Governance, F&C Asset Management, and Hilary Kramer, Greentech Research Founder, discuss why Exxon shareholders are upset.

click for video

click for video

video: Exxon Proxy Fight Grows Pt. 1

video: Exxon proxy fight grows pt. 2

read also: Exxon's first quarter earnings and the Rockefellers

read also: ExxonMobil's R&D spending is 'tiny'

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