How Tiny Hedge Fund Engine No. 1 Just Reshaped Exxon's Board

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Though it owns just 0.02% of the company, the fund convinced big investors to vote for three new board members with backgrounds in clean energy. But will they be able to actually change how Exxon operates? The board of ExxonMobil, the largest oil company in the United States, includes the CEO of Merck and the former CEO of Caterpillar. They now have some new colleagues: three board members that the fossil fuel company didn’t want—and who plan to push for a coherent plan to address climate change. That’s thanks to Engine No.

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