I welcome Michael Toth, my colleague. He is Head of Research at the Civitas Institute, University of Texas at Austin. And there’s a clue we’re writing about Texas here with Michael Toth. But we’re also writing about a major story in corporate life that is all new to me, so I learn carefully.
Exxon has voted—more than 71% of the shareholders—to move after 150 years in New Jersey to Texas. That is the payoff, but that’s not the story. The story here is why.
Was this a struggle with the so-called passive investor advisories, one named ISS, the other named Glass Lewis? The reason is unknown to me.
Watch the full conversation above, or listen to an audio version below:
LINKS:
“In Exxon’s Texas Move, Asset Manager Clout Eclipses Proxy Firms” by Michael Toth on Civitas Outlook
