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At least 2 Exxon board members lose seats in vote

In this April 23, 2018, file photo, the logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange. Exxon Mobil is facing a major challenge from a group of investors in one of the biggest fights a corporate boardroom has faced over its stance on climate change, an issue of rising urgency among many shareholders. The investor group is pushing to replace four of the oil giant's board members with executives who they say are better suited to make money and to lead the company through a transition to cleaner energy.

NEW YORK — Exxon Mobil’s shareholders have voted to replace at least two of the company’s 12 board members with directors who are seen as better suited to fight climate change, bolster Exxon’s finances and guide it through a transition to cleaner energy.

The results, which Exxon called preliminary, were announced after the annual shareholder meeting Wednesday. Exxon said because of the complexities of the voting process, inspectors might be unable to certify the results for “some period of time.” It was unclear whether one more board member was also unseated in the shareholder vote.

Regardless of the final tally, the outcome represents a setback for Exxon’s leadership. It coincides with growing pressure on publicly traded companies to more urgently revamp their businesses to address what critics see as a intensifying global crisis.

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