One of the newest faces at Exxon Mobil Corp., Kaisa Hietala, wants to make sure she’s not misunderstood as she’s propelled to sudden fame in a battle between climate activists and the oil industry.
The 50-year-old Finn — unknown to corporate America until last month — won her boardroom seat at Exxon after a campaign by activist hedge fund Engine No. 1 convinced BlackRock Inc., Vanguard Group Inc. and other key investors to back her in a contentious vote.
Speaking in an interview with Bloomberg, Hietala says she understands how important it is to look after a company’s “traditional, existing business.” That’s after devoting her career to helping the energy industry move away from fossil fuels and over to renewables.
Hietala’s comments provide some of the earliest insight into how she and the two other directors successfully nominated by Engine No. 1 will likely approach their new roles. The shake-up of the oil giant’s board is a watershed moment for Exxon, which had told shareholders to shun the nominees and called them “unqualified.” It’s also being hailed as a warning to the rest of the oil industry that activism is a growing force with the potential to upend corporate agendas.
2019 Bloomberg L.P.