The National Legal and Policy Center (NLPC) has launched a campaign urging ExxonMobil shareholders to vote against the re-election of CEO Darren Woods to the board.

In an eight-page memo filed with the SEC, NLPC criticized Woods for prioritizing climate politics over market demand, citing his support for the Paris Climate Agreement and reliance on Inflation Reduction Act (IRA) subsidies.

The group accused Woods of steering Exxon toward unprofitable carbon capture and hydrogen schemes, which would collapse without generous federal tax incentives.

Woods’s $44.1 million pay package and alignment with climate-focused shareholders were flagged as signs of misaligned priorities.

NLPC questioned whether Woods is appeasing activist investors post-Engine No. 1’s 2021 board shakeup, while pursuing taxpayer-funded decarbonization strategies with no real market.

The memo also attacked Exxon’s push for carbon-intensity standards, calling it a move to offload risky bets onto traditional energy producers.

Further criticism was leveled at Woods’s promotion choices, including directors linked to past corporate failures, suggesting poor judgment and mismanagement.

NLPC concluded that ExxonMobil needs leadership focused on energy production, not climate subsidies, and called for Woods’s removal.