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From hubris to hybrid

Oh to be a fly on the wall in the Exxon boardroom as Alexander Krasner joins Kaisa Hietala and Gregory Goff for their first meeting. While these three well-qualified champions of decarbonisation were endorsed by the votes of shareholders, Darren Woods, the Chairman & CEO, scraped home in seventh place. He now has to work with people he didn’t want elected, having warned investors that voting for these three would “derail our progress and jeopardise your dividend.” We are going to have to imagine the scene in the boardroom.  The best chronicler so far of these historic moments has been Bob Eccles, champion of sustainability and integrated reporting and so much more, whose account (in Forbes) of this year’s Exxon AGM is a gem. He deftly portrays the tin-eared approach of the powerful and entrenched in the face of sophisticated, conscience-driven opponents. What an upheaval! And not only in the oil industry. Read the rest here.


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