Home Finance Exxon director tells activist campaign, ESG pressurizes ‘tidal wave’

Exxon director tells activist campaign, ESG pressurizes ‘tidal wave’

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© Reuters. FILE PHOTO: A logo of Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. Reuters / Sergio Moraes

(Reuters) – Exxon Mobil Corp (NYSE:) director Ursula Burns called environmental pressure and a successful activist campaign to gain board seats in the largest US oil producer a “tidal wave” in a speech Wednesday.

“The timing was right,” said Burns, who spoke at a Federal Reserve Bank of Dallas virtual event.

Exxon shareholders elected three directors nominated by hedge fund Engine No. 1 on the company’s board.

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