Exxon to Offer Auto-Voting to Counter Shareholder Activism

ExxonMobil turns to retail investors to neuter activist threat

ExxonMobil has faced down environmental activists and shareholder activists for decades — and is now enlisting its retail shareholders in the fight.The Securities and Exchange Commission on Monday blessed Exxon’s plans to roll out a program that lets its mom-and-pop investors automatically vote their shares in favor of management’s recommendations. The company cited a desire to “level the playing field” between individual investors, who often fi…

Exxon Taps Retail Investors With Auto-Voting Tool to Fend Off Climate Activists

ExxonMobil has moved to strengthen its hand against climate-focused investor campaigns by introducing an auto-voting system for its massive retail shareholder base, Reuters reported on Monday. The plan, approved under a “no-action” letter from the SEC, will allow individual investors to opt in and have their votes automatically aligned with management recommendations unless they explicitly choose otherwise. The company is targeting its so-called…

Exxon to offer auto-voting to counter shareholder activism

Exxon Mobil is introducing a unique shareholder voting mechanism that may help the top U.S. oil producer fend off activist campaigns.

SEC Backs Exxon Plan to Allow Auto Votes For Retail Shareholders

Exxon Mobil Corp. is introducing a program to encourage more retail investors to support the company in proxy votes with an automatic system that threatens to limit the influence of activists.

Exxon’s Auto Proxy Vote Program for Retail Investors Gets SEC Go-Ahead

Exxon Mobil said it will introduce a voluntary voting option for its retail investors.