Exxon director calls activist campaign, ESG pressures a 'tidal wave' – speech

FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

(Reuters) – Exxon Mobil Corp Director Ursula Burns called environmental pressures and the successful activist campaign to gain board seats at the biggest U.S. oil producer a “tidal wave” in a speech on Wednesday.

“The timing was perfect,” said Burns, who spoke at a Federal Reserve Bank of Dallas virtual event.

Exxon shareholders elected three directors nominated by hedge fund Engine No. 1 to the company’s board.

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