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Exxon shares jump as activist investor Jeff Ubben joins the board

March 1, 2021


Exxon Mobil announced two board seat changes Monday, including activist investor and ESG proponent Jeff Ubben, in a sign that the company is confronting its uncertain future as the world moves toward cleaner energy and as investors shy away from oil stocks.

Exxon said the other new board member is Mike Angelakis, chairman and chief executive officer of Atairos and former CFO of Comcast.

Exxon shares jumped 4.7% after CNBC’s David Faber first reported the shake-up.

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