Engine No. 1, the new activist investor firm seeking long-term policy changes at Exxon, said on Wednesday it had formally nominated four independent director candidates to the supermajor’s board, continuing shareholder pressure on the biggest U.S. oil and gas firm to start thinking of its business in the energy transition. “Investors increasingly want to see companies focused on the long-term and ExxonMobil is no exception. We believe that ExxonMobil’s Board needs new members who have proven success positioning energy companies for today as well as tomorrow, and who are sufficiently independent from the current Board to ensure a clean break from a strategy and mindset that have led to years of value destruction and poorly positioned the Company for the future,” Engine No. 1 said. The investor firm sent a letter to Exxon last month demanding that the supermajor reinvent itself for “much-needed change.” The activist investor—which has the […]