Rockefellers' Green Revolt Fails at Exxon

Bid to open leadership to global warming debate fails
By Peter Fearon,  Newser Staff
Posted May 29, 2008 2:47 AM CDT
Rockefellers' Green Revolt Fails at Exxon
Rex Tillerson, chairman and chief Executive Officer of Exxon Mobil. Management fended off a shareholder revolt by descendants of the founder, John D. Rockefeller.   (Getty Images)

A shareholder revolt at Exxon Mobil by descendants of company founder John D. Rockefeller has failed to force management to split up the dual chairmanship and CEO roles of Rex Tillerson. The proposal to appoint an independent chairman in part to stimulate board debate about global warming garnered 40% of shareholder votes at the annual meeting in Dallas, reports the Guardian

A Rockefeller-backed resolution to limit Exxon's greenhouse gas emissions won 31% of the votes. The push against Tillerson was an attempt to dilute his power to help the company be "flexible and visionary in light of changing energy realities," said a Rockefeller family spokesman. Tillerson insisted yesterday that Exxon is sensitive to global warming issues. (More Exxon Mobil stories.)

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