CalPERS to vote against all 12 Exxon directors, citing lawsuit

By Thomson Reuters May 20, 2024 | 11:26 AM

(Reuters) – The California Public Employees’ Retirement System said on Monday it will vote against all 12 director nominees at Exxon, citing the company’s lawsuit against activist investors.

The system known as CalPERS said in a letter to its members posted online that if successful, Exxon’s legal action “could diminish the role—and the rights—of every investor in improving a company’s bottom line.”

Exxon’s shareholder meeting is set for May 29.

(Reporting by Ross Kerber, Editing by Franklin Paul)