Engine No. 1 Activist Presentation Deck
Board went to great lengths to avoid adding directors with
successful and transformative energy experience
ā
Rather than even meeting with our nominees (the "Nominees"), ExxonMobil
added three new directors in a process rife with serious issues
DEC. 7, 2020
Engine No. 1
announces intention
to nominate 4
directors
JAN.
2021
JAN. 22, 2021
ExxonMobil's CEO
and Lead Board
Director tell Engine
No. 1 that Nominees
do not meet general
board criteria of
having previously
served as large public
company CEOS
JAN. 25-27, 2021
Inclusive Capital
purchases 1.5MM
shares of ExxonMobil
(no other purchases
in prior 2 years)
JAN. 14, 2021
ExxonMobil's banker informs Engine No. 1 that the Company
would not meet with the Nominees but would sign a
confidentiality agreement with Engine No. 1 pertaining to
forthcoming announcements, so Engine No. 1 could get
some "credit" for such announcements.
FEB.
2021
FEB. 4, 2021
ExxonMobil's discussions with Inclusive Capital's CEO
become public
"Activist investor Jeff Ubben is being considered for a
board seat at Exxon Mobil Corp., according to people
familiar with the matter. Ubben's investment firm
Inclusive Capital Partners is also discussing taking a
meaningful stake in the oil giant if he were appointed
the board, the people said, asking not to be identified
because the matter is private." - Bloomberg
FEB. 2, 2021
Wan Zulkiflee
appointed to
ExxonMobil
board of
directors
Quote sources: Scott Deveau and Ed Hammond (February 4, 2021). ExxonMobil is Said to Consider Adding Jeff Ubben to Board. Bloomberg.
MAR.
2021
MAR. 1, 2021
Michael Angelakis and Jeffrey Ubben
appointed to board of directors with support
of DE Shaw, bringing total of new directors
to 3 in prior 30 days, none of whom have
served as public company CEOs despite
ExxonMobil's stated criteria to Engine No. 1
REENERGIZE
EXXON//
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