Rockefellers urge CEO, chairman split at Exxon Mobil
NEW YORK (MarketWatch) -- Rockefeller family members added their names Wednesday to a shareholder resolution to separate the chief executive officer and chairman roles at Exxon Mobil Corp., setting the stage for a new showdown at the energy giant's annual meeting next month.
While family members praised CEO Rex Tillerson for his oil and gas results, they concluded that an independent board chair remains "key to Exxon Mobil's future" and that the company should step up efforts to look beyond fossil fuels at alternative energies.
"The board believes very strongly that there is NO single best organizational model that would be most effective in all circumstances," Exxon Mobil said.
Exxon Mobil has urged shareholders to vote against the resolution, which, if passed, would have to get an approval from the board itself.
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