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Chevron to face vote on climate committee at shareholder meeting

Apr. 07, 2020 4:42 PM ETChevron Corporation (CVX) StockCVXBy: Carl Surran, SA News Editor26 Comments
  • Chevron (NYSE:CVX) shareholders will be able to vote at its annual general meeting May 27 on whether the board should form a committee on climate risks, according to its proxy statement.
  • The company recommends voting against the proposal, as well as resolutions including writing reports on climate lobbying, human rights and petrochemical risk, changing the threshold for special meetings, and whether it should have an independent chairman.
  • CEO Mike Wirth earned $33.1M in 2019 vs. $20.6M in 2018, with the increase due primarily to a change in the value of pension and deferred compensation.
  • Chevron says the annual meeting may be held virtually due to the coronavirus.

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