Members of the Rockefeller family, whose ancestor founded Exxon Mobil predecessor Standard Oil, are calling for the oil major to split the roles of chief executive and chairman, and to devote greater attention to new types of energy and environmental reforms.
The family members announced on Wednesday - a day before Exxon releases its first quarter earnings - that they are joining other Exxon investors by supporting four shareholder resolutions that will be voted on when the company holds its annual meeting on May 28.
Among the proposals are a call to create an independent chairman position at the company, a resolve to invest in alternative fuels, establish ways to cut greenhouse-gas emissions and another to push for Exxon to see if it should take a more active role in sustainable energy development projects.
The family members will urge other shareholders to back the resolutions, Peter O'Neill, head of the family's committee dealing with Exxon Mobil issues told Bloomberg. He said the company isn't doing enough to prepare for climate change and its implications for fossil fuels. One of the resolutions calls for the company to study how global warming affects developing nations.
O'Neill said 85 percent of Rockefeller descendants over 21 years of age support the resolutions.
The family members only hold slightly more than 0.0006 percent of the company's 5.4 billion, however their voices as descendants of the founder carry influence within the company.
Shares of Exxon Mobil Corp. rose 99 cents, or 1.08 percent to $92.78 in mid-day trading