Fri, May 02, 2008 - Page 11 News List

Rockefeller family accuses ExxonMobil of ignoring alternative energy options

EARTH?? FUTUREThe family?? call for an independent chairman has won support from several institutional investors. They also want a renewable energy policy

THE GUARDIAN , NEW YORK

??e are focusing our support on research, both internally and externally, to achieve the large technological step changes that are needed,??a company spokesman said.

He denied any reluctance to enter into talks.

??e have met members of the Rockefeller family on many occasions over a number of years,??he said.

The shareholder proposals are not binding and Exxon merely says that any successful resolutions will be ??onsidered??by its board. In spite of criticism over its strategy, Exxon?? shares have surged by 20 percent in the last year and the firm commands a market value of US$497 billion.

The Rockefellers won?? say how many shares they hold. Company figures show the 12 family members proposing resolutions have 332,174 shares, worth US$31 million but amounting to only 0.006 percent of the company.

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