Reuters exclusively reports BlackRock backs 3 dissidents to shake up Exxon board

Reuters exclusively reported that BlackRock, Exxon Mobil Corp’s second-largest shareholder, is backing several of upstart hedge fund Engine No. 1’s candidates to join the company’s board, in a blow to the energy giant. BlackRock, the world’s largest fund manager, has a 6.7% stake in Exxon, and its vote illustrates how frustrated shareholders have become after years of having the company dismiss concerns about its strategy. Investors have grown much more serious about fighting climate change.