# How a hedge fund named Engine No. 1 delivered a massive blow to Exxon Mobil

- Link: https://www.widthness.com/how-a-hedge-fund-named-engine-no-1-delivered-a-massive-blow-to-exxon-mobil/
- Published: 2021-05-29T09:00:15-05:00
- Author: Curated by John Wysocki

Photo caption: Companies with a market value of $250 billion like Exxon rarely face, much less lose, shareholder battles. REUTERS. Article by Reuters. NY Post – May 27, 2021. Last December, when a week-old hedge fund named Engine No. 1 challenged Exxon Mobil to change its ways, laughter echoed through Wall Street circles, from the fund’s name that recalled a famous children’s book to its tiny, then-$40 million stake in what was once the world’s largest publicly traded company. Just six months later, the fund delivered a massive blow that rippled throughout the oil-and-gas industry. Engine No. 1′s campaign forced Exxon to accept new board members who could bring about a reckoning over its business strategy and confront the risk of global climate change that many investors say Exxon has long been reluctant to address. […] Click here to view original web page at nypost.com