ExxonMobil CEO warns shareholder activists of potential legal action for misusing proxy proposal process.

ExxonMobil CEO Darren Woods cautioned shareholder activists against misusing the proxy proposal process, indicating the company may pursue legal action against violators. Woods highlighted a previous lawsuit against Follow This and Arjuna Capital over a climate-related resolution, which was dropped after the activists withdrew their proposal. While he recognizes the role of investor suggestions, he insists they must adhere to established protocols.