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Article: Advisory group backs call by Rockefellers for changes at Exxon.(Exxon Mobil Corp.)
- Article from:
- The Oil Daily
- Article date:
- May 12, 2008
- Author:
CopyrightCOPYRIGHT 2008 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Efforts by the heirs of oil baron John D. Rockefeller to force Exxon Mobil to appoint an independent chairman and focus more on renewable energy have received a boost from RiskMetrics Group, a leading independent adviser to institutional investors.
RiskMetrics has recommended that investors back three out of four proxy resolutions offered by members of the Rockefeller family.
The heirs have raised concerns about Exxon's direction under chairman and chief executive Rex Tillerson and want to end his dual role by appointing an independent chairman to the company's board (OD May1,p1). They also want to see Exxon boost its investment in alternative energy.
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