Can Rockefeller Heirs Turn Exxon Greener? – New York Times
Can Rockefeller Heirs Turn Exxon Greener?
Peter O’Neill, left, Neva Rockefeller Goodwin, center, and Stephen B. Heintz are three of the Rockefeller family members urging Exxon to focus on alternative energy.
It has become a habit when Exxon Mobil has a blockbuster quarter, as it did last week, for the company to come under fire for driving up gasoline prices. But attacks from the heirs of John D. Rockefeller, the indomitable capitalist who formed the Standard Oil Trust, which eventually became Exxon?
It turns out that some of John D.’s descendants would like to see changes at the oil giant and are publicly challenging the company’s current boss, Rex W. Tillerson. Specifically, they are behind proxy resolutions demanding that the roles of chairman and chief executive be split and that Exxon invest more in alternative energy.
“They are fighting the last war and they’re not seeing they’re facing a new war,” said Peter O’Neill, a great-great-grandson of the company’s founder. Another family member, Neva Rockefeller Goodwin, an economist, said, “we feel so passionately about them becoming the best company that they can.”
Exxon didn’t seem too shaken by the threat from the Rockefeller name. It points out that these family members represent only 0.006 percent of Exxon’s stock.
Exxon’s shareholder meeting is May 28. The board has recommended voting against the resolution splitting the chairman and chief executive positions.
“We take their concerns very seriously” Kenneth P. Cohen, a company representative, said, “as we do those of all our shareholders.”
