EN1 Versus Exxon: This David Wants To Strengthen His Goliath

EN1 Versus Exxon: This David Wants To Strengthen His Goliath

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 of stakeholder capitalism. It's a clever insurgency. James wants to pressure Exxon from the outside for the purpose of remaking the company from the inside—by securing seats on the Exxon board of directors for a handful of experts in the