TELETRADER News
3/1, 2:35 PM (Source: TeleTrader)
more TeleTrader news

Investor Ubben, ex-Comcast CFO to join Exxon board - report

Activist investor Jeff Ubben and former chief financial officer of Comcast Mike Angelakis are set to join Exxon Mobil's board of directors as the company seeks to revitalize its standing on the market following a decline in its share prices, CNBC reported on Monday citing sources familiar with the plans.

Ubben, who co-founded the San Francisco-based hedge fund ValueAct Capital in 2000, has been engaged in so-called social investing recently, focusing on making systemic changes at companies in order to better society.

Shares of Exxon jumped 3.73% following the news to $56.40 ahead of the opening bell on Wall Street.

Breaking the News / JC