Exxon considering to add activist investor Jeff Ubben to board: Bloomberg News
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Investors Poured More Money Into Stocks in Past 5 Months Than Last 12 Years, Says BofA, Analysts Worried About Stretched Valuations
- Amazon.com warehouse workers vote to reject forming union in Alabama
FILE PHOTO: A logo of the 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
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
(Reuters) - Activist investor Jeff Ubben is being considered for a board seat at Exxon Mobil Corp, Bloomberg News reported on Thursday, citing people familiar with the matter.
Ubben's investment firm Inclusive Capital Partners is also discussing taking a stake in the U.S. oil producer if he was appointed to the board, according to the report https://bloom.bg/3tB34G3.
Ubben's talks with the board are going well and he has already won the support of shareholders, including D.E. Shaw & Co., the report said.
Exxon's board is still deliberating and a decision on whether to appoint Ubben could be made in the coming weeks, it added.
An Exxon spokesman declined to comment when contacted by Reuters, while Ubben could not be immediately reached.
Exxon added Tan Sri Wan Zulkiflee Wan Ariffin, former chief executive officer of Malaysian state energy firm Petronas, to its board on Tuesday, after months of investor pressure.
The company said it is talking with a number of other board candidates as part of an ongoing "refreshment" process, and will take further action in the near term.
(Reporting by Juby Babu in Bengaluru; Editing by Rashmi Aich)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hedge fund Melvin Capital lost 49% on its investments in Q1 -source
- Eversource Energy (ES) Chairman, CEO and President Jim Judge to Become Executive Chairman, Joe Nolan Named President and CEO
- Exxon explores sale of elastic polymer business: sources
Create E-mail Alert Related CategoriesBoard Changes, General News, Hedge Funds, Reuters
Related EntitiesD.E. Shaw, Jeffrey W. Ubben
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!