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

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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 “mom-and-pop” shareholders, who collectively hold about 40% of Exxon’s…

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