Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

Advisory group lends support to Rockefellers in Exxon fight



By AP
09 May 2008 @ 02:26 pm ET

NEW YORK - The Rockefeller family and shareholders pushing Exxon Mobil to focus more on renewable energy now have the backing of a powerful advisory group for institutional investors.

Related Topic

Get stories by e-mail on this topic.

E-mail:
Quotes
XOM 72.58 0.08

The RiskMetrics Group also came out in support of another proxy supported by the Rockefellers, who want the position of chief executive and chairman, currently held by Rex Tillerson, to be split.

Peter O'Neill, a great-great grandson John D. Rockefeller, Sr., who founded the company that became Exxon, said Friday that RiskMetrics' support "added considerable momentum" to the shareholder resolution.

The Rockefellers are trying to break the company free of what it considers a stodgy management structure that has failed to plan properly for changes in future energy markets.

Copyright 2009 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Industries
Warren Buffett's Berkshire Hathaway Inc said it plans to limit the amount of business underwritten by its reinsurance operations, as it prepares to spend...
California was awarded $19.5 million in a settlement against Royal Dutch Shell Plc's U.S. unit for not storing fuel properly at filling stations in the s...
Citigroup Inc said on Friday that new accounting rules for securitization trusts may prevent the bank from funding some of its assets with a top debt rat...

advertisement
Advertisement
POS Magnetic Card Readers

Online distributor for point of sale equipment, TYSSO and Pegasus.

 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives