Bob Monks: ExxonMobil Exemplifies Corpocracy

CorpocracyBob Monks
The ExxonMobil annual shareholder meeting this year carried high expectations from shareholder activists. Members of the Rockefeller family, descending from the founder of the Standard Oil monopoly that splintered into Exxon and Mobil, attended the meeting to support four different shareholder resolutions on corporate governance and climate change. Of these four, the resolution supported by most Rockefellers asked the company to split the CEO and Board Chair positions. Today’s CWR guest, Bob Monks, has filed this resolution at ExxonMobil since the early 2000s. His struggle to hold ExxonMobil accountable exemplifies the broader struggle to hold corporations accountable described in his new book, Corpocracy. Monks is co-founder of Institutional Shareholder Services, The Corporate Library, Lens Governance Advisors, and a former Labor Department official in the Reagan Administration.

Bob Monks’ Website

Corpocracy: How CEOs and the Business Roundtable Hijacked the World’s Greatest Wealth Machine — And How to Get It Back

Web extra: Bob Monks chats with CWR co-hosts Bill Baue and Francesca Rheannon about the US presidential candidates’ ability to take on corpocracy. Listen

CWR Headlines:

ExxonMobil loses appeal to Supreme Court on human rights abuse case

CWR ViewPoint:  read (Thanks to our partner CSRwire for posting text of CWR commentaries.)

Longtime shareholder activist Steve Viederman presented this statement at the ExxonMobil Annual Meeting in May 2008 to introduce resolution 19 asking Exxon to adopt a renewable energy policy. He filed the resolution along with other individuals, families, foundations and religious orders, joined by 20 institutional investors worth over $740 billion in combined assets, including Exxon Mobil stock valued at more than $8.6 billion.

Steve Viederman Bio