Exxon: At least 2 board members lose seats in climate fight

Exxon Mobil

PHOTO: ExxonMobil signage, Photo Date: 7/5/2018

NEW YORK (AP) — Exxon Mobil’s shareholders have voted to replace at least two of the company’s 12 board members with directors who are seen as better suited to fight climate change, bolster Exxon’s finances and guide it through a transition to cleaner energy.

The preliminary outcome of the vote was announced by the company after its annual shareholder meeting Wednesday.

The company said that because the complexities of the voting process, inspectors might not be able to certify final voting results for “some period of time.” Still, the outcome represents a setback for Exxon’s leadership.

It coincides with growing pressure on publicly traded companies to more urgently revamp their businesses to address what critics see as a intensifying global crisis.

Categories: National News