The news source noted that the institutional investment group Ceres has become the latest stakeholder to seek the ouster of ExxonMobil’s joint chairman and CEO, Rex Tillerson, in favor of a new candidate with focus on renewable energy.
The Rockefeller family, which founded ExxonMobil’s predecessor firm Standard Oil, retains a substantial minority stake in the oil major.
The family is reportedly of the opinion that the company has become over-dependent on traditional energy operations, such as oil exploration, and is not focusing enough on environmentally friendly technologies, which are expected to be crucial for the business in the long term.
The Times noted that British pension funds, Universities Superannuation Scheme and Railpen Investments, have joined other concerned investors in their demand for a new and independent chairman at ExxonMobil.
