Shareholders' Proposals Run Out of Gas at Exxon Shindig at Meyerson

The protesters outside the ExxonMobil shareholders meeting this morning Things are ugly-ish here at the Morton H. Meyerson Symphony Center, site of ExxonMobil's annual shareholders get-together. This morning, media outnumbered protesters two-to-one; Enough's enough, looks like. But at the actual meeting ExxonMobil’s board of directors recommended the shareholders vote against...

By Robert Wilonsky

May 28, 2008

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The protesters outside the ExxonMobil shareholders meeting this morning

Things are ugly-ish here at the Morton H. Meyerson Symphony Center, site of ExxonMobil's annual shareholders get-together. This morning, media outnumbered protesters two-to-one; Enough's enough, looks like. But at the actual meeting ExxonMobil’s board of directors recommended the shareholders vote against all 17 of the proposals offered by the shareholders, so take that. And the shareholders followed suit voting by, of course, voting down all of the proposals.

Of the proposals, seven dealt with climate or environmental issues. Neva Rockefeller Goodwin submitted a proposal seeking the establishment of a task force to “investigate and report to shareholders on the likely consequences of global climate change between now and 2030.” In her closing remarks, she also voiced her support for resolution No. 5, which called for an amendment requiring that the chairman of the board not concurrently serve as the company’s chief executive officer. Which Rex W. Tillerson wasn't about to let happen.

Exact results of the votes will follow after the press conference, which is set to take place now. --Daniel Rodrigue

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