The asset manager has a policy of voting against combined CEO–chair roles, but also cites worries about Exxon’s “lack of strategic ambition” on climate.
Image: Ken Wolter/Shutterstock
If there is one company that attracts the ire of those concerned with protecting the environment it is the world’s second largest oil company, ExxonMobil. The company’s history is not only one of huge production but of recurring clashes over its environmental record.
Now opens another chapter. The UK’s largest asset manager, Legal & General Investment Management (LGIM), has taken the unusual step of announcing it will vote against reappointment of the corporate’s chair at its AGM.
LGIM cites the company’s attitude to climate disclosures and the role of CEO and chair being held by the same person as the major reasons. The a
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