Exxon Mobil Corp. shareholders defeated all shareholder proposals, including separate proposals sponsored by the New York State Common Retirement Fund, the New York City Retirement Systems, the United Brotherhood of Carpenters Pension Fund, according to results provided by the company from Wednesday's annual meeting.
The Albany-based $160.4 billion New York State Common fund proposal, which called for adding to the company's employment opportunity policy prohibitions against discrimination based on sexual orientation and gender identity, got 19.8% of the vote.
A proposal calling for a report on the company's practices and procedures to minimize the environmental impact of its natural gas extraction operations, sponsored by the five New York City pension funds with combined assets of $134.7 billion, got 30.2% of the vote.
A proposal requiring a majority vote to elect directors, sponsored by the $1 billion United Brotherhood of Carpenters Pension Fund, Washington, got 45.3% of the vote. The asset size of the carpenters fund could not be learned by press time.
Other shareholder proposals calling for:
- an independent chair received 34.9% of the vote;
- limiting directorships of board members to three companies with sales of more than $500 million, 5.8%;
- disclosure of lobbying activities, 25%;
- studying the feasibility of prohibiting corporate political spending, 5.7%; and
- a report on greenhouse gas emissions, 26.8%.
Shareholders ratified the compensation of the CEO and other top executives by 70.6% in a non-binding say-on-pay vote and elected all nominees to the board of directors by an average 96% vote.
