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Article: A family affair; Corporate governance.(Rockefeller family intervenes in management of Exxon Mobil Corp.)

Article from:
The Economist (US)
Article date:
May 24, 2008
Copyright

The Rockefeller family confronts the board of Exxon Mobil

THE involvement of the Rockefeller family gives added piquancy to one of the two most significant shareholders-versus-board battles of this year's proxy season. (Carl Icahn's proposal to replace the board of Yahoo! is the other.) Of the 78 adult direct descendants of John D. Rockefeller Jr, 72 have endorsed a resolution to split the jobs of chairman and chief executive at Exxon Mobil, which eventually emerged from the antitrust break-up of the family oil monopoly, Standard Oil. Exxon strongly opposes the resolution and has tried to stem growing enthusiasm for it ahead of its annual meeting on May 28th by ...

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