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Exxon Soars After Activists Jeff Ubben, Michael Angelakis Join Board Of Directors

zerohedge2021-03-01

Could Exxon wind up being the next ESG play?

Shares of the oil and gas giant spiked Monday pre-market after CNBC's David Faberreportedthat Jeff Ubben would be joining the company's board. In addition, Mike Angelakis - the former CFO of Comcast and a "green" activist - was also said to be joining the board.

"Mike Angelakis, the chairman and chief executive officer of Atairos and former CFO of Comcast, is also joining the board," CNBCreported. According toAngelakis' bio, he "was the Chairman of the Board for the Federal Reserve Bank of Philadelphia, a member of the Board of Directors of Duke Energy and Hewlett Packard Enterprises, and a trustee of Babson College."

Two weeks agowe notedthat Ubben was looking to raise another $8 billion for his impact fund. Ubben was looking to raise the capital for his Spring Fund II, a successor to his $1.5 billion Spring Fund that he started while at ValueAct, which he founded in 2000, according to Bloomberg. The goal of the fund was reportedly going to be looking at "impact investing", which aims to "make systemic changes at companies and sectors to the betterment of society." As we said at the time:

This, of course, would fit nicely if Ubben was looking to make a major operational, ideological (and PR) shift at an undervalued legacy oil and gas company like Exxon.

In early February we reported that Ubben was considering a "meaningful stake" in Exxon and could, as a result, even wind up with a seat on the board.

Ubben left ValueAct last year to start his own firm that is focused on investments in social and environmental issues.

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评论23

  • LiangChing
    ·2021-03-02
    Nice
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  • Shifeng
    ·2021-03-02
    Activist doesnt change the company to proactive easily! 
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  • SNOOKER76
    ·2021-03-02
    Good call 
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  • AppleMango
    ·2021-03-02
    Please comment n like
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  • Nagoken
    ·2021-03-02
    Good
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  • JFK
    ·2021-03-02
    Noted. 
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    • Nagoken
      Goood
      2021-03-02
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  • Jimmy365
    ·2021-03-02
    Okok
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  • jeremiahlo
    ·2021-03-01
    wow
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  • Jchptan
    ·2021-03-01
    Hi
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    • babypink
      cool
      2021-03-02
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  • s3
    ·2021-03-01
    plz like my post i like cookies
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    • Jchptan
      Hi
      2021-03-01
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  • 18b406d6
    ·2021-03-01
    Like my post pls
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    • pingabc
      great
      2021-03-01
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    • BryanTJj
      ok
      2021-03-01
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    • s3
      ok
      2021-03-01
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  • JoelLim
    ·2021-03-01
    Please comment and like!
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    • BryanTJj
      ok
      2021-03-01
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  • mQ
    ·2021-03-01
    Nice
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  • leongsiak
    ·2021-03-01
    All giants united
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  • jere09
    ·2021-03-01
    Like 
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  • Leo445
    ·2021-03-01
    Goood
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  • IanChay
    ·2021-03-01
    Good
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    • Tongs
      Okie
      2021-03-04
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  • 1ea2ddec
    ·2021-03-01
    Like and comment thanks
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    • JoelLim
      Sure
      2021-03-01
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  • Nebhol
    ·2021-03-01
    Buying
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  • 1ea2ddec
    ·2021-03-01
    Boom
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