Reuters ahead with key news and insight on Exxon

Reuters was ahead of the competition during a busy week for Exxon Mobil as the company faced down a tiny hedge fund in an expensive fight to see who would end up on the company’s board of directors. That hedge fund, Engine No. 1, pushed for new representation after years of poor returns from Exxon and the desire for a different approach to low-carbon investment. Reuters broke the news that Blackrock Inc, the largest asset manager in the world, would vote against Exxon’s slate of directors, a big win for the hedge fund. That was followed by two major headline wins, with Reuters reporting first that a statement from the hedge fund told Exxon to accept that they had lost the battle, and that at least two of the dissident nominees had been elected to Exxon’s board. Reuters followed with insight, showing how Exxon slowly lost support of major institutions in this fight, and capped off the week with another insight on how Exxon is operating the dirtiest refineries in the U.S.