Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, May 13, 2008

Exxon Urges Investors to Reject Corporate Governance Proposal

Exxon Mobile asked its institutional investors to reject a shareholder's proposal, introduced by activist shareholder Robert A.G. Monks, to separate the positions of CEO and Chair at the May 28 shareholders' meeting.  The resolution received 40% of the vote at last year's meeting and is supported by some influential shareholders, including members of the Rockefeller family.  In emails, Exxon said that there is no "one size fits all" model of corporate governance.  WSJ, Exxon Email Opposes Shareholder Measure.

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