Third Point set to play long game in pressuring Shell
Oct 29th, 2021
by John Donovan.
REUTERS
Third Point set to play long game in pressuring Shell
Oct 29 (Reuters) – When investors saw Daniel Loeb’s Third Point LLC unveil a stake in Royal Dutch Shell
(RDSa.L), some were quick to make the comparison to Exxon Mobil Corp
(XOM.N), whose board was challenged this year by another hedge fund, Engine No. 1.
Yet Third Point plans to follow a different tack, according to people familiar with its plans. It has not put forward any board nominees or threatened the chief executive’s job and there are no immediate plans to do so, the sources said.
Instead, the $19 billion fund outlined its suggestions to Shell in a letter to its own investors, making for a low-key introduction of its hopes for the $190 billion oil company.
Third Point’s founder, billionaire investor Daniel Loeb, wants the Anglo-Dutch company to separate its oil and gas business from its renewable-energy and liquefied-natural-gas operations.
FULL ARTICLE
Like this:
Like Loading...
shellplc.website and its sister non-profit websites
royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and
shell2004.com
are owned by
John Donovan. There is also a
Wikipedia feature.
Posted in: Big Oil, Break-up Shell, Dan Loeb, Electric Power, Environment, Exxon Mobil, Fossil Fuels, Gas, Greenhouse gas, Greenwashing, Oil, Pollution, Reuters, Royal Dutch Shell, Royal Dutch Shell Plc, Shell, Shell Energy, Shell Greenwash, Sin Stocks.
Tagged: Alternative Energy · Environment · ExxonMobil · Gas · Royal Dutch Shell Plc · Shell