Calpers Threatens to Vote Against the Re-Election of Exxon’s CEO

The California Public Employees' Retirement System has threatened to vote against the re-election of Exxon chief executive Darren Woods to the company’s board unless it dropped its lawsuit against two activist investors. The Financial Times reported that the threat was a response to Exxon’s retaliation against Arjuna Capital and Follow This, the Dutch Big Oil activist pressure group. In January, the two investors filed a proposal for Exxon shareholders to vote at the annual general meeting on May 29 to have Exxon commit to…