PARIS - A group of investors in French oil major TotalEnergies is calling for the company to split the roles of CEO and chairman, which they say could speed up its shift away from fossil fuels.
Climate-focused investors have increased pressure on the world's top oil and gas companies in recent years to cut carbon emissions and move away from fossil fuels production.At its AGM last year, 30% of TotalEnergies investors voted in favour of faster emissions cuts against the company's recommendation.
A board chair has the power to set the agenda and filter investor requests, says the resolution, adding that in 2022 the Pouyanne-led board declined to submit a climate-change related resolution to a vote on a technicality that was much debated. Jerry Dean McLain first bet on former president Donald Trump’s Truth Social two years ago, buying into the Trump company’s planned merger partner, Digital World Acquisition, at $90 a share. Over time, as the price changed, he kept buying, amassing hundreds of shares for $25,000 - pretty much his “whole nest egg,” he said.
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