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 a ...