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Gagnier Communications is handing the Coalition United for a Responsible Exxon, which is disappointed with the oil giant’s financial performance (e.g., $20B Q4 loss), poor capital allocation decisions, and failure to capitalize on business opportunities tied to the clean energy transition, according to its Feb. 2 letter to ExxonMobil’s board.
The Coalition of 135 members represents $2.2T in assets. It includes the Interfaith Center on Corporate Responsibility, Merck Family Fund, US Trust, Wallace Global Fund, Sisters of Bon Secours USA, Majority Action, Sierra Club Foundation, Arjuna Capital, Nathan Cummings Foundation and Fulcrum Asset Management.
CURE raps Exxon’s investments in upstream projects that are based on unrealistic expectations of future oil and gas prices and demand.
It criticizes the company’s “current myopic and entrenched board and leadership team” that has failed to stem its corporate decline over the last decade and calls for “refreshed leadership and a new vision for Exxon.”
Gagnier Communications’ Dan Gagnier and Jeffrey Matthews handle the CURE.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a committment from Koch Equity Development to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
