The ESG Initiative at the Wharton School


Exxon’s Exodus: Employees Have Finally Had Enough of Its Toxic Culture

Outlet: Bloomberg
Vit Henisz on Exxon Mobil’s internal resistance to addressing climate change

Shortly after Exxon Mobil Corp. lost its battle with an activist investor last year, an executive named Bill Keillor decided to give his department a morale boost. It had been a difficult year and a half for Exxon employees. Covid-19 and plunging crude prices had led to halted salary increases, reduced benefits, and, for the first time in decades, thousands of layoffs. Anxiety was coursing through the organization.