Squawk Pod: The ExxonMobil shareholder vote: CalPERS CEO & US Chamber SVP - 05/29/24 | Audio Only
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 decades-long concerns of overpopulation were misguided; advanced economies are facing fiscal troubles as their working age populations dwindle.
In this episode:
Becky Quick, @BeckyQuick
Andrew Ross Sorkin, @andrewrsorkin
Cameron Costa, @CameronCostaNY
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