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Podcast: Squawk Pod
Episode: The ExxonMobil Shareholder Vote: CalPERS CEO & US Chamber SVP 05/29/24
Description: After two activist investors pushed ExxonMobil to reduce emissions, the company sued the activists, prompting them to withdraw their proposal. The litigation has cost ExxonMobil’s board the support of CalPERS, the largest public pension fund in the U.S. and a $1B stakeholder in Exxon. CalPERS CEO Marcie Frost discusses her position ahead of the company’s shareholder meeting on Wednesday, and U.S. Chamber of Commerce EVP of Capital Markets Competitiveness Tom Quaadman explains why the U.S. Chamber backed Exxon in its lawsuit against the activist investors. Plus, economist and University of Maryland professor Melissa Kearney says...