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AllianzGI to vote FOR shareholder proposal on voluntary retail voting program at Exxon' 2026 AGM

21.05.2026 | Allianz Global Investors (AllianzGI), one of the world's leading active investment managers, today announced its intention to vote FOR Item 6 at Exxon Mobil Corporation’s upcoming Annual General Meeting on 27 May. Item 6 requests the company to modify its Voluntary Retail Voting Program so that retail shareholders are offered multiple independent voting options rather than only an option aligned with management recommendations on an open-ended basis.

AllianzGI supports efforts to increase retail shareholder participation in corporate governance. As an active steward of client assets, AllianzGI believes that voting frameworks should empower shareholders to make informed and independent decisions, especially on issues of strategic, governance and long-term financial relevance.

ExxonMobil’s current retail voting programme invites retail investors, once they opt in and unless they opt out, to follow management recommendations at shareholder meetings on an ongoing basis. As currently structured, the programme risks weakening the independent exercise of shareholder voting rights, be it by institutional shareholders or retail shareholders who did not opt in. In AllianzGI’s view, it represents a setback for shareholder democracy. The shareholder proposal seeks to address this concern by asking the company to adopt and disclose policies ensuring that the programme provides broader choice to retail investors, including independent standing instructions, a general policy not aligned with management, and/or more customised voting options.

Antje Stobbe

Antje Stobbe, Head of Stewardship, commented: “We support measures that encourage greater participation by retail shareholders. However, such mechanisms should preserve shareholder choice and independence. In our view, ExxonMobil’s current programme does not strike the right balance, which is why we intend to support Item 6, because we believe retail shareholders should be given meaningful and independent options when exercising their voting rights”.

AllianzGI will continue to support measures that enhance shareholder participation while safeguarding the independence and integrity of the voting process.


For further information please contact:

Contact

Marion Leblanc-Wohrer
Email: Marion.leblancwohrer@allianzgi.com
Tel: +33685157454

 


About Allianz Global Investors:

Allianz Global Investors is a leading active asset manager with over 700 investment professionals in over 22 offices worldwide and managing EUR 598 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.

About Allianz Global Investors:

Data as at 31 March 2026. Total assets under management are assets or securities portfolios, valued at current market value, for which Allianz Global Investors companies are responsible vis-á-vis clients for providing discretionary investment management decisions and portfolio management, either directly or via a sub-advisor (these include Allianz Global Investors assets which are now sub-advised by Voya IM since 25 July 2022). This excludes assets for which Allianz Global Investors companies are primarily responsible for administrative services only. Assets under management are managed on behalf of third parties as well as on behalf of the Allianz Group.

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This is for information only and not to be construed as a solicitation or an invitation to make an offer to buy or sell any securities. The views and opinions expressed herein, which are subject to change without notice, are those of the issuer or its affiliated companies at the time of publication. The data used is derived from various sources and assumed to be accurate and reliable at the time of publication. but it has not been independently verified; its accuracy or completeness is not guaranteed and no liability is assumed for any direct or consequential losses arising from its use, unless caused by gross negligence or wilful misconduct. The duplication, publication, extraction or transmission of the contents, irrespective of the form, is not permitted, except for the case of explicit permission by Allianz Global Investors.

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This document is being distributed by the following Allianz Global Investors companies: In Australia, this material is presented by Allianz Global Investors Asia Pacific Limited (“AllianzGI AP”) and is intended for the use of investment consultants and other institutional/professional investors only, and is not directed to the public or individual retail investors. AllianzGI AP is not licensed to provide financial services to retail clients in Australia. AllianzGI AP is exempt from the requirement to hold an Australian Foreign Financial Service License under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order (CO 03/1103) with respect to the provision of financial services to wholesale clients only. AllianzGI AP is licensed and regulated by Hong Kong Securities and Futures Commission under Hong Kong laws, which differ from Australian laws; in the European Union and South Africa, by Allianz Global Investors GmbH, an investment company in Germany, authorized by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and authorized and regulated in South Africa by the Financial Sector Conduct Authority; in the UK, by Allianz Global Investors (UK) Ltd. company number 11516839, authorised and regulated by the Financial Conduct Authority (FCA); in Switzerland, by Allianz Global Investors (Schweiz) AG, authorised by the Swiss financial markets regulator (FINMA); in HK, by Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; in Singapore, by Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; in Japan, by Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424], Member of Japan Investment Advisers Association, the Investment Trust Association, Japan and Type II Financial Instruments Firms Association; in mainland China, it is for Qualified Domestic Institutional Investors scheme pursuant to applicable rules and regulations and is for information purpose only; in Taiwan, by Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan; and in Indonesia, by PT. Allianz Global Investors Asset Management Indonesia licensed by Indonesia Financial Services Authority (OJK); and in the Abu Dhabi Global Market by Allianz Global Investors Middle East Limited, which is authorised and regulated by the ADGM Financial Services Regulatory Authority with Financial Services Permission number 250070.

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