EN1 Versus Exxon: This David Wants To Strengthen His Goliath

SourceForbes
SectorOil & Gas
CountryGulf

Share to Linkedin The Exxon Mobil Baytown refinery and chemical plant in Baytown, Texas. In 2017, Exxon Mobil settled … [+] violations of the clean-air law with the Trump administration by agreeing to pay a $2. 5 million civil penalty and spend $300 million on pollution-control technology at plants along the Gulf Coast.

As part of the settlement, Exxon committed to spending $1 million to plant trees in Baytown. (AP Photo/Frank Bajak) I love David vs. Goliath stories. There’s a new David in town, and he’s taking on one of the biggest Goliaths ever: Exxon Mobil XOM The name of our idealistic young sling-shooter is Engine No. 1, an amiable name for Chris James’s stakeholder-activist investment fund. James is mounting a proxy campaign against the energy giant to do two things simultaneously: transform Exxon into a nimble innovator in the energy sector for the sake of better shareholder returns and also remake this fossil fuel behemoth into a potential model...read more...