British voting adviser Pensions & Investment Research Consultants Limited (PIRC) on Monday urged Exxon Mobil Corp shareholders to vote against the re-election of five directors, including chairman and chief executive officer Darren Woods at Wednesday’s annual general meeting. .
PIRC, a proxy firm that makes recommendations to shareholders, also suggested voting against the re-election of Alexander Karsner, one of the directors nominated by activist hedge fund Motor No. 1 last year.
He also urged shareholders to vote against the company’s executive compensation plan at Wednesday’s meeting.
Exxon’s compensation and benefit programs are designed to support the company’s core principles and business strategies and are competitive in the marketplace for all employees, the company said in a written response.