Engine No.1 scores a hat-trick with a third board seat at ExxonMobil
Alexander Karsner, a strategist at Alphabet Inc., won the fund's third seat in the 12-member ExxonMobil board, according to a regulatory filing
By Yashasvini Razdan, 11:58 AM ET
Engine No.1 bagged yet another victory at the Exxon Mobil Corp. board elections when shareholders elected the third nominee by the hedge fund to the oil company’s board.
Alexander Karsner, a strategist at Alphabet Inc., won the fund's third seat in the 12-member ExxonMobil board, according to a regulatory filing. Karsner has significant experience in the renewable energy space. Exxon board member and former Caterpillar CEO Douglas Oberhelman also was elected, reported Reuters.
The filing also mentioned that Steven Kandarian, Samuel Palmisano, and Wan Zulkiflee will exit the 12-person board. Former IBM CEO Palmisano was the board's longest-serving director with 15 years. Former Malaysian state oil company chief Zulkiflee was appointed in February after Exxon received blunt criticism its directors lacked energy experience, stated the Reuters’ report.
