Exxon Mobil (XOM) Considering adding activist investor Jeff Ubben to the board according to Bloomberg

Ivan Brian FXStreet

Exxon Mobil (XOM) shares are higher on Friday as Bloomberg reports that Exxon is considering adding activist investor Jeff Ubben to the board.

Additional takeaways

Ubben’s investment firm Inclusive Capital Partners could also take a significant stake in the oil major if Jeff Ubben is appointed to the board.

Bloomberg reports that discussions between Exxon (XOM) and Ubben are “constructive”.

Recent press speculation has linked Exxon Mobil (XOM) to Chevron (CVX).

Market Reaction

Shares in Exxon Mobil (XOM) are trading nearly 1.5% higher during Friday’s pre-market session at $48.98.

XOM hares have performed strongly since announcing results on Tuesday. Exxon announced its first loss in forty years but still beat analyst expectations on EPS. Exxon (XOM) more importantly pledged to maintain its generous dividend.

The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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