Engine No. 1 extends gains with a third seat on Exxon board

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Reuters

By Svea Herbst-Bayliss and Jennifer Hiller (Reuters) -Exxon Mobil Corp shareholders elected a third director nominated by hedge fund Engine No. 1 to the oil company’s board, the company said on Wednesday, extending the firm’s upset victory at one of America’s most iconic corporations. The election was a shock to an energy industry struggling to address growing investor concerns about global warming and a warning to Exxon managers that years of weak returns were no longer acceptable. Engine No. 1 nominee Alexander Karsner, a strategist at Google owner Alphabet Inc, won the fund’s third seat out…

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