Exxon Board Adds Activist After Attacks on Returns, Climate
- Jeff Ubben, Michael Angelakis bring total of directors to 13
- Exxon has been seeking climate, asset-management expertise
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Exxon Mobil Corp. appointed climate-minded activist investor Jeff Ubben and former Comcast Corp. executive Michael Angelakis to its board following investor criticism of the oil giant for its environmental record and poor capital allocation over the past decade.
The additions bring the number of directors on the board to 13, with seven joining since 2016, Exxon said in a statement. Bloomberg News first reported Ubben was being considered for the role last month. Exxon rose 3.7% for its biggest daily gain in three weeks.