Follow This challenges BP chair
Reuters | Activist investor Follow This plans to call for a vote against Chair Helge Lund’s reappointment at its April 17 shareholder meeting, claiming he should have offered investors a say on scrapping energy transition targets.
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Shareholders have not been offered a direct vote on the new strategy, which is Follow This’s main point of critique.
Follow This, which won 20% support for its climate resolutions at BP’s 2021 annual general meeting and 17% in 2023, this year swapped filing a resolution for urging a vote against Lund on governance grounds.
“We don’t want the chair to resign,” the group said in a statement on Thursday. “We want him to heed the message that he has crossed a governance line and retrace his steps by offering shareholders a vote.”
