Exxon Mobil Corp. defeated all 15 shareholder proposals and re-elected Michael J. Boskin as a director to the board, despite a vote-no effort by Connecticut state Treasurer Denise L. Nappier, sole trustee of the $23.5 billion Connecticut Retirement Plans and Trust Funds, Hartford, and opposition by the $245.3 billion California Public Employees’ Retirement System, Sacramento.
Directors were elected with at least 93% of the vote, according to preliminary results reported in a statement from the Irving, Texas-based company.
The proposals included a call for an annual shareholder advisory vote on executive pay, which received 41.2% of the vote; allowing shareholders of 10% of the stock to call a special shareholder meeting, 47.8%; separation of the roles of chairman and CEO, 40%; and recouping unearned executive incentive pay, 47.2%.
Climate change and other environmental proposals received votes ranging from 7.1% to 31%.
Ms. Nappier’s coalition of institutional investors campaigned to withhold votes on Mr. Boskin, chairman of the board’s public issues committee, because of the board’s refusal to meet with a group of top investors concerning climate change. Gantt H. Walton, Exxon Mobil spokesman, said management representatives designated by the board met with the group earlier this year and the two sides are arranging a date for another meeting.
Proxy-voting advisory firms Institutional Shareholder Services, Proxy Governance and Egan-Jones Proxy Services all supported Mr. Boskin’s election.
