Andrew Freedman’s Wall Street Journal Op-Ed Highlighted in Law360 Story on Emerging Opposition to Exxon’s Retail Voting Program

Olshan Co-Managing Partner and Chair of the firm’s Shareholder Activism Practice Andrew Freedman’s recent op-ed published in The Wall Street Journal titled "Your Vote Doesn’t Count at ExxonMobil" (you can read it here) was highlighted in Law360 (subscription required) regarding the activist groups asking the SEC to rescind its effective approval of ExxonMobil’s proposed “Retail Voting Program,” which automatically and indefinitely authorizes the company to vote retail investors’ shares in line with the board’s preferences. Andy warned that such voting programs entrench management and decrease accountability, leading down a “path of inferior corporate performance and lower returns for all shareholders.”