Why did Glass Lewis and ISS recommend that Exxon investors vote against the company's plan to redomicile in Texas?

Glass Lewis and ISS recommended that Exxon investors vote against the plan to change its incorporation from New Jersey to Texas because the move 'could restrict stockholder rights and make it more difficult to seek legal recourse,' as stated in their reports this month.

What specific board-related recommendation did Glass Lewis make regarding Chevron's governance structure?

Glass Lewis recommended that Chevron investors support a proposal for an independent board chair separate from the CEO role, stating that such separation 'leads to a more proactive and effective board.'

Exxon, Chevron Face Dissent from Proxy Firms Ahead of Annual Meetings

May 13, 2026

Proxy advisory firms Glass Lewis and ISS recommended shareholders vote against certain board stances at Exxon and Chevron. They cited climate risks and governance issues ahead of the May 27 annual meetings.

reuters

2026-05-13

Exxon, Chevron Face Dissent from Proxy Firms Ahead of Annual Meetings

2026-07-31

Exxon, Chevron warn of continued high fuel prices from Iran war

2026-08-01

Major Oil Companies Post Record Profits as Geopolitical Tensions Drive Energy Prices Up

2026-08-05

ExxonMobil and Chevron Warn of Continued Tight Finished Product Supply in H2

Exxon, Chevron Face Dissent from Proxy Firms Ahead of Annual Meetings

FAQ