XOM Announces Preliminary Director Election Results

ExxonMobil (NYSE: XOM) announced Wednesday that it had updated preliminary results for the election of directors at its annual meeting of shareholders, which was held on May 26. 

Based on estimates by the company’s proxy solicitor, shareholders are expected to elect nine ExxonMobil nominees and three Engine No. 1 nominees, the company noted. Re-elected ExxonMobil directors are expected to be Darren Woods, Michael Angelakis, Susan Avery, Angela Braly, Ursula Burns, Kenneth Frazier, Joseph Hooley, Douglas Oberhelman, and Jeffrey Ubben, ExxonMobil highlighted. Engine No. 1 nominees expected to be elected are Gregory Goff, Kaisa Hietala, and Alexander Karsner.

ExxonMobil highlighted that the preliminary results, which were filed as a Form 8-K with the U.S. Securities and Exchange Commission (SEC), are subject to certification by the independent inspector of election, who has sole ability to validate the election. The final certification of results will be filed with the SEC, ExxonMobil confirmed.

“We look forward to working with all of our directors to build on the progress we’ve made to grow long-term shareholder value and succeed in a lower-carbon future,” Woods, ExxonMobil’s chairman and chief executive officer, said in a company statement.

“We thank all shareholders for their engagement and participation, and their ongoing support for our company,” Woods added in the statement.

If the expected directors are confirmed, it would mean Tan Sri Wan Zulkiflee Wan Ariffin would lose his seat on the board. Wan Zulkiflee, who joined the ExxonMobil board back in February, served as the president and group chief executive officer of Petronas, the national oil and gas company of Malaysia, from 2015 to 2020.

Back in March, ExxonMobil announced that it had filed a definitive proxy statement and a letter to shareholders urging them to vote to support the company’s 12 director nominees at its 2021 annual meeting of shareholders on May 26.

“Our directors have experience leading some of the world’s largest, most complex and successful companies and bring to the board a wide range of backgrounds, knowledge and skills relevant to ExxonMobil’s business and future success,” Woods said in a company statement at the time.

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