Note: The deadline for filing resolutions has passed. For more information, contact Mitch Anderson.
A group of institutional investors are filing three separate resolutions at Chevron over its corporate governance and management of its legal liabilities in Ecuador.
For background on the $18 billion judgment against Chevron for its pollution in Ecuador and resulting financial and operational risk to the company, please read this report.
- Independent Board Chair
Chevron’s CEO John Watson is also board chair. This example of poor corporate governance may have contributed to less-than-adequate board oversight of management’s handling of the court case in Ecuador. The resolution is a standard proposal asking for an independent board chair.
The lead filer is the Unitarian Universalist Association. - Nominate Director with Environmental Expertise
This is a re-filing of the resolution filed in the last few years. Adding a member of the board of directors with expertise in environmental liability would assist Chevron’s board in its oversight of the Ecuador litigation and other potentially materially significant environmental liabilities.
The lead filer is New York State. - Call a Special Shareholder Meeting
This is a new resolution to be lead filed by Newground Social Investment. The resolution seeks to make it easier to call special shareholder meetings, given our concerns about how management is handling a range of issues that have created serious threats to long-term shareholder value. We believe shareholder engagement around these issues is important and productive, so we need to be able to request a special meeting to discuss them.
PLEASE SHARE
Short URL
