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CORPORATE -- The board revolt at Exxon Mobil is complete. Three alternate nominees will now sit as directors, while one director Exxon added only in February is no longer on the board. Exxon confirmed Wednesday the preliminary voting results from last week’s dramatic annual shareholder meeting (PIW May28'21). Alexander Karsner, senior strategist at Google affiliate X, received enough votes to join the board, making him the third nominee backed by activist shareholder Engine No. 1 to make the cut. Results that day showed that Greg Goff, former CEO of US refiner Andeavor, and Kaisa Hietala, former head of renewable products at downstream firm Neste, were granted seats, but other votes were still being tallied. In electing the trio, investors sent clear signals about the types of experience they believe will help better guide Exxon in developing a more proactive and robust energy transition strategy. Karsner brings an extensive resume in clean tech, first as a private equity investor and adviser to start-ups and then overseeing federal R&D programs as US assistant secretary of energy. His current role is with the innovation lab of Google parent Alphabet.

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