A tiny activist hedge fund’s success in reshaping the board at ExxonMobil is the most important corporate governance development in decades.
Image: Ken Wolter/Shutterstock
In the end money talks, like it always does. If you skip through the financial and business pages of the newspapers as you head for the sport, or are still half asleep when Dominic O’Connell gives us the daily business news at 6.15am on the Today programme, a couple of weeks ago you might have missed a piece of financial news of genuine world-changing significance.
And what was this news of such import? It was that the board of ExxonMobil, the biggest of Big Oil & Gas, was forced against its will by a six-month-old tiddler activist hedge fund called Engine No.1, to appoint at least three new directors onto its board who are strong ad
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