The Rockefeller family, who constitute the largest continuing shareholder conglomerate of Exxon Mobile Corp., is challenging the company to shift its strategy away from oil and towards developing means of renewable energy. The Rockefeller family also challenged Exxon to split the role of chairman and CEO. Both roles are served by Rex Tillerson, who has overseen a 63 percent rise in the company's stock price since January 1, 2006, mostly due to the rapid climb in oil prices. “They are fighting the last war and they're not seeing they're facing a new war,” said Peter O'Neill, who heads the Rockefeller Family committee dealing with Exxon Mobil and is the great-great-grandson of John D. Rockefeller. Exxon Mobile was formed by combining two offspring of John D. Rockefeller's Standard Oil Trust. The Rockefellers said they have for years been concerned that Exxon Mobile was not committing enough resources to developing renewable energy, and decided to go public with their sentiment in light of rising oil prices and the suffering American economy. They said that if Exxon Mobile is to remain a viable company, it must change its long-term strategy. Exxon Mobile is the world's largest publicly traded company. The company's board is recommending shareholders vote against a proposal to split the role of chairman and CEO. In a recent proxy statement filed with the Securities and Exchange Commission, the board said ``the most effective leadership structure for Exxon Mobil Corporation at the present time is for Mr. Tillerson to serve as both Chairman and CEO.'' Exxon Mobil spokesman Gantt Walton said the company has met with the Rockefeller family on multiple occasions and ``respects the rights of all shareholders to make their views known,'' but that it does not comment on what is said during meetings with shareholders.
