Time up for Tillerson?
Image source: exxonmobil.com
The Rockefeller family are taking on Rex Tillerson the Chair and Chief Executive of Exxon-Mobil. It was John D. Rockefeller who started it all with Standard Oil, and now his descendants are campaigning for a new strategic focus on renewable energy. Exxon has the reputation for being unapologetically ungreen, and has only recently acknowledged the existence of the threat of global warming. There are a number of resolutions coming up at the next shareholders’ meeting proposed by members of the Rockefeller family, the most significant of which is the separation of the roles of Chair and Chief Executive. Tillerson currently occupies both positions. With their separation, there is the prospect of greater accountability. Whether this will be sufficient to appease shareholders disgruntled by Exxon’s intransigence on climate change remains to be seen.