00:00 - 00:03 | The Engine No. 1 campaign has gained many votes |
00:04 - 00:05 | Including those of CalSTRS... |
00:05 - 00:07 | And CalPERS. |
00:08 - 00:12 | The vote will be closer than we ever imagined. |
00:12 - 00:15 | If we lose it will be a repudiation of our leadership. |
00:17 - 00:19 | They will never win without... |
00:19 - 00:21 | ...the support of BlackRock and Vanguard. |
00:24 - 00:26 | Mr. Woods... |
00:27 - 00:28 | BlackRock... |
00:31 - 00:33 | BlackRock has announced that it is backing three of Engine No. 1's candidates. |
00:34 - 00:36 | And Vanguard has also capitulated to the activist cause. |
00:53 - 00:58 | Everyone who voted alongside Engine No. 1...please leave the room. |
01:13 - 01:15 | We Are ExxonMobil! |
01:15 - 01:17 | We have the best balance sheet in the business! |
01:18 - 01:23 | Why aren't they targeting those pansies at Chevron? |
01:25 - 01:28 | Now will have to cut down Rex's oak tree. |
01:29 - 01:31 | And it was showing signs of leaf growth! |
01:31 - 01:34 | "Invest heavily in the downcycle," you all said. |
01:34 - 01:37 | You traitors. Have you ever heard of capital discipline? |
01:37 - 01:40 | I've seen interns make better investment decisions! |
01:40 - 01:42 | Mr. Woods, we followed the EMCAPS process perfectly. |
01:42 - 01:46 | Impossible! EMCAPS is infallible! It is the way. |
01:46 - 01:48 | Mr. Woods, perhaps if we had made stronger climate commitments... |
01:48 - 01:52 | Climate commitments are mere pageantry, you fool! |
01:53 - 01:54 | Climate Change! |
01:56 - 01:57 | What does society think the world runs on? |
01:57 - 02:00 | Windmills? What is this? The Netherlands? |
02:00 - 02:03 | Why don't I just carbon capture my own farts?! |
02:04 - 02:08 | We were going to double earnings in five years. |
02:08 - 02:13 | Now we'll have to PIP 20% of the workforce! |
02:14 - 02:16 | Imagine the cost of the severance packages. |
02:17 - 02:21 | Soon we won't be able to afford electricity on campus. |
02:27 - 02:29 | We will have to let the people work from home. |
02:30 - 02:34 | That would be unacceptable. I'm a boomer. |
02:34 - 02:36 | How will the people collaborate? |
02:41 - 02:42 | I can't... |
02:43 - 02:47 | This entire company is a huge pain in my ass. |
02:48 - 02:53 | I outsource jobs to India. I inspire massive attrition. I exude the charm of a dying robot. |
02:54 - 02:56 | And the activisits still attack my strategy. |
02:56 - 02:59 | Is this all some prank Rex is pulling on me? |
03:00 - 03:02 | Am I on Punk'd?! |
03:04 - 03:07 | It's OK. He's still Chairman and CEO. |
03:14 - 03:16 | How can I stay in my position now? |
03:19 - 03:23 | 25% of the board are losers now. |
03:25 - 03:26 | And yet... |
03:31 - 03:33 | I'll have to say I enjoy working with them. |
03:40 - 03:46 | What will we become? ExxonMobil, maker of batteries? Of solar panels? |
03:46 - 03:49 | Why don't they just replace me with Greta Thunberg? |
03:53 - 03:56 | I'm going to PIP myself... |