Stripping the Chairman, Greening the Planet
The company that gave us one of the world's most horrific environmental disasters is now serving up another spectacle -- this one colored green rather than muck-black. Two decades after the Valdez spill, a corporate fight is spilling out of Exxon's boardroom.
As reported by The New York Times, the Rockefeller family wants to strip Rex W. Tillerson of his position as chairman because of perceived foot-dragging on sustainability issues.
It's encouraging to see business titans battling to determine how to be strategically, effectively, profitably green. Thomas "The World is Flat" Friedman indicated the green revolution won't have really started until people stop talking happy and start throwing elbows. At that point we'll know something big is at stake. Dressing down a a board chairman looks pretty big from here.
What does Exxon do next? Probably, the media attention means it has to get more out front on sustainability. Chalk one up for the Rockefellers and the planet.
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Friedman is correct, it's all BS until things actually start happening behind the scenes. This move definitely signals a desire on the part of the Rockefellers to have their company get on the green bandwagon. Is it good business to start investing in technologies that cannibalize the company's core profit center? In this case, I would argue they have no choice, either get on the renewable energy train or be left behind permanently.
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