Being related, distantly, to the founder of the company which became Exxon (XOM), did not help the Rockefellers. They were at the front of a group of shareholders trying to separate the chairman and CEO roles at the oil company. They also wanted XOM to put more money into alternative energies.
The complacent old men who sit on the board and run the company would have nothing to do with it and fought like lions.
The proposal was defeated with only 39.5% of shareholders voting in favor of pulling apart the two jobs.
The Rockefellers will be left to go home and count all the money that management has made for them over the last several years.
Douglas A. McIntyre
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