Activist Likely to Gain Third Seat on Exxon Board

By Christopher M. Matthews

An activist investor is likely to pick up a third seat on the board of Exxon Mobil Corp., giving it additional leverage to press the oil giant to address investor concerns about climate change.

Exxon said Wednesday that an updated vote count showed shareholders backed a third nominee of Engine No. 1, an upstart hedge fund that had already won two board seats at Exxon's annual shareholder meeting last week. The final vote hasn't been certified, Exxon said, and could take days or weeks to be finalized, according to people familiar with the matter.

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(END) Dow Jones Newswires

06-02-21 1627ET