Exxon Considering Adding Activist Investor Jeff Ubben To Board: Bloomberg News By Reuters


© Reuters. FILE PHOTO: Exxon Mobil Corp Logo at the Rio Oil and Gas Conference and Exhibition in Rio de Janeiro

(Reuters) – Activist investor Jeff Ubben is being considered for a seat on the board of Exxon Mobil Corp (NYSE :), Bloomberg News reported Thursday, citing people familiar with the matter. Ubben’s investment firm, Inclusive Capital Partners, is also discussing taking a stake in the US 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 DE Shaw & Co., according to the report. The Exxon board is still deliberating and a decision could be made on whether to name Ubben in the coming weeks, he added. An Exxon spokesperson 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 of Malaysia’s state energy company Petronas, to its board on Tuesday after months of pressure from investors. The company said it is speaking with other board candidates as part of an ongoing “update” process and will take further action in the short term.

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