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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.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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